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RESOLUTION OF THE CITY OF WHEELING, WEST VIRGINIA DECLARING ITS OFFICIAL INTENT TO REIMBURSE EXPENDITURES MADE FROM PROCEEDS OF BONDS OR OTHER OBLIGATIONS WHEREAS, United States Treasury Regulations
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A declaration of official intent is a formal statement issued by a government entity indicating its intention to issue bonds or incur debt for specific projects.
Government entities, such as municipalities or public agencies, that plan to issue bonds to finance certain expenditures are required to file a declaration of official intent.
To fill out a declaration of official intent, an entity must provide details about the project, specify the amount of debt intended to be incurred, and describe the purpose for which the funds will be used.
The purpose of a declaration of official intent is to establish a formal intention to reimburse expenditures with bond proceeds and ensure compliance with tax regulations.
The declaration must report the project description, estimated expenditures, intended reimbursement amounts, and the expected timeline for bond issuance.
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