TOWN OF NEWWINDSOR RESOLUTION NO. .05-1-AB  A RESOLUTION DECLARING THE OFFICIAL INTENT OF THE TOWN OF NEW WINDSOR TO REIMBURSE EXPENDITURES TO BE INCURRED WITH RESPECT TO CERTAIN PROJECTS OR PROGRAMS OR FROM CERTAIN FUNDS WITH THE  PROCEEDS OF DEBT  WHEREAS, to facilitate an efficient borrowing program, the Town of New Windsor (the "Issuer") intends to expend money on certain projects or programs or from certain funds prior to the issuance of debt by the Issuer for such purposes; and  WHEREAS, the Issuer intends to reimburse such expenditures from the WHEREAS, to comply with applicable provisions of the Internal Revenue Code of 1986, as amended, and Section 1.150-2 of the Income Tax Regulations, it is necessary, in order to reimburse such expenditures with the proceeds of tax-exempt debt, that the Issuer declare its official intent to make such a reimbursement of  proceeds of debt to be issued by the Issuer; and  expenditures;  NOW, THEREFORE, BE IT RESOLVED by the Town of New Windsor that, as evidenced by this Resolution, the Issuer intends to expend money on the cost of the acquisition, construction, and improvements of the capital projects described in Exhibit A attached hereto prior to the issuance of bonds or other debt obligations to reimburse such expenditures. With respect to such projects, the Issuer reasonably expects to issue debt obligations for these projects in the estimated maximum principal amount of  Four Million Dollars $4,000,000.00). RESOLVED this 151h  day of Sllay  2017.  TOWN OF NEWWINDSOR  AnaaE Ala Donna E. Alban Town Clerk Adopted: Effective:  Mayor  ER  Introduced: Mny 15  2017 2017 2017  7045 45    Approved for form and legal sufficiency This_ day of May Michelle M. Ostrander LDLA Town Attorney  2017:  dlarte    EXHIBIT A  DESCRIPTION OF PROJECTS  Engineering for and replacement of waterlines, lining and replacement of sewer lines and manholes, and street lighting, in conjunction with Maryland State Highway  Administration Streetscape project.