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A y I <br />ORONO CITY COUNCIL MEETING <br />MINUTES FOR MARCH 27, 2000 <br />• 8. Endowment Fund — Ordinance No. 196,2 "d Serie— Continued <br />Building Outlay Fund is used toward payment of the debt service on the City facilities <br />bonds. The Council has discussed using the funds for one -time large expenditures. Moorse <br />stated that if the interest earnings available for the debt service were significantly reduced, <br />the City would have a difficult time finding an alternative source of funding for the debt <br />service. <br />Peterson moved, and Sansevere seconded, to adopt Ordinance No. 196, 2 "d Series as <br />presented creating the Community Investment Fund. <br />Vote: Ayes 4, Nays 0. <br />*9. Receipt of the Certificate of Achievement for Excellence in Financial Reporting <br />for the 1998 Financial Report (Information Only). <br />*10. Police Department Conversion to LOGIS Police Records System -1999 Police <br />Budget Amendment <br />Kelley moved, and Peterson seconded, to approve the installation of the LOGIS police <br />records system at a cost of $4,220; to be funded from the 1999 Police Department <br />Capital Outlay, with a budget amendment of $4,220; and that the 2000 Police <br />is Department Capital Outlay Budget be decreased by $4,220. <br />Vote: Ayes 4, Nays 0. <br />40 <br />*11. Resolution in Support of a Planning Grant from the Metropolitan Council — <br />Resolution No. 4434 <br />Kelley moved, and Peterson seconded, to adopt Resolution No. 4434 in support of a <br />planning grant from the Metropolitan Council to offset the costs of the Long <br />Lake /Orono Consolidation Study. <br />Vote: Ayes 4, Nays 0. <br />CITY ATTORNEY'S REPORT <br />There was no City Attorney's Report. <br />*12 LICENSES <br />Kelley moved, and Peterson seconded, to approve the following licenses. <br />Vote: Ayes 4, Nays 0. <br />11 <br />