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0 0 <br />E~0'n -19 P!GE 468 <br />DECLARATION OF OFFICIAL INTENT TO REIMBURSE <br />This declaration (the "Declaration") is made pursuant to the requirements of the <br />United States Treasury Regulations and is intended to constitute a Declaration of Official <br />Intent to Reimburse under such Treasury Regulations. <br />The undersigned is authorized to declare the official intent of the County of Lee, <br />North Carolina (the "issuer") with respect to the matters contained herein. <br />1. Expenditures to be Incurred. The Issuer anticipates incurring expenditures <br />(the "Expenditures") to construct and equip a new emergency services training <br />center, including the acquisition and construction of a new facility, including <br />the acquisition and installation of necessary furnishings and equipment and <br />including the renovation of certain existing structures. Project cost is <br />estimated to be at least $2,500,000. <br />2. Plan of Finance. The Issuer intends to finance costs of the Project with the <br />proceeds of debt to be issued by the Issuer (the `Borrowing"). <br />Maximum Principal Amount of Debt to be Issued. The maximum principal <br />amount of the borrowing to be incurred by the Issuer to finance the Project is <br />$2,500,000. <br />4. Declaration of Official Intent to Reimburse. The Issuer hereby declares its <br />official intent to reimburse itself or Central Carolina Community College with <br />the proceeds of the Borrowing for any of the Expenditures incurred by either <br />of them prior to the issuance of the Borrowing. <br />Board of Commissioners <br />County of Lee <br />North Carolina <br />Dated: July 21, 2003 <br />