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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 abilit>‘to reasonably repay the funds, <br />and use of the principal does not exceed the equivalent of the Iasi rvvo 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, expenditures may be made from the fund 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 apply 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 Cit>' of Orono on the 27th day of March. 2000, <br />by a vote of___ayes and____nays. <br />ATTEST: <br />Linda S. Vee, City Clerk Gabriel Jabbour, Mayor <br />Page 3 of 3