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• • <br />4. The project has been included in at least two consecutive formally- <br />approved capital improvement programs. <br />5. If principal is used, the project has the ability to reasonably repay the funds, <br />and use of the principal does not exceed the equivalent of the last two years* investment earnings <br />from the Community Investment Fund. <br />6. An estimate of the ongoing annual operating and maintenance costs has <br />been made and the source(s) for paying such costs identified. <br />D. If any of the findings in Paragraph C cannot be made and the project meets the <br />expenditure limitations imposed in Subd. 3, expendituix? may be made from the fimd only after the <br />affirmative vote of at least four Council members. <br />Subd. 6. Administrative Expenditures. The limitations imposed in the sections above shall <br />not ^ply to reasonable expenses necessary for the administration of the Community Investment <br />Fund. <br />Subd. 7. Amendments. No amendments may be made to Section 8 except upon the <br />affirmative vote of at least four members of the Council. <br />SECTION 2. This Ordinance shall be published in THE PIONEER and THE <br />LAKER and shall be effective upon publication. <br />Adopted by the City Council of the City of Orono on the 27ih day of March, 2000, <br />by a vote of_ayes and 0 nays. <br />ATTEST: <br />LitKla S. Vee, City Clerk Gabrlbl Jabbour, Mayors <br />TO BE PUBLISHED IN THE LAKER AND PIONEER NEWSPAPERS THE WEEK OF APRIL 1, 2000. <br />Page 3 of 3 <br />I <br />II