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MINUTES OF THE <br />ORONO CITY COUNCIL MEETING <br />May 29, 2001 <br />(Use of Funds from Community Investment Fund, Continued) <br />Sansevere inquired what the possibilities are for the Park Fund repaying this money. <br />Moorse stated the Park Commission is looking at replacing some play equipment in the next few <br />years and would not have sufficient funds available to repay this money. Moorse stated it would <br />depend on the amount of new development in the City, which generates park dedication fees. <br />Moorse stated he would recommend the City look at bonding for this money as part of the next <br />bond issue. <br />White suggested the City utilize the proceeds from the sale of the front piece of property to help <br />repay this money. <br />Flint stated he is in favor of proceeding forward with the purchase. <br />Flint moved, White seconded, to approve the transfer of $120,000 from the Community <br />Investment Fund to the Park Fund, to be used as partial funding for the purchase of the <br />property located at 3770 Shoreline Drive; and to amend the Community Investment Fund <br />budget and the Park Fund budget to reflect the transfer and expenditure. <br />Sansevere requested the proceeds from the sale of the front portion of the property be allocated <br />towards the purchase price of this property and be listed as the first option for repayment. <br />Flint noted the property currently is zoned residential. <br />VOTE ON THE ABOVE MOTION: Ayes 5, Nays 0. <br />APPROVAL OF MINUTES <br />( 0) REGULAR COUNCIL MEETING OF MAY 14, 2001 <br />Mayor Peterson stated she removed Items 3 and 4 from the Consent Agenda since she was not <br />present at either one of the meetings. <br />Nygard requested the name Nyberg on page five be corrected to read Nygard. <br />Sansevere moved, White seconded, to approve the Minutes of the Regular Council Meeting <br />of May 14, 2001, as amended. VOTE: Ayes 3, Nays 0; Flint and Peterson Abstained. <br />( #4) RECONVENED BOARD OF REVIEW MINUTES OF MAY 14, 2001 <br />Sansevere moved, White seconded, to approve the Minutes of the Reconvened Board of <br />Review of May 14, 2001, as submitted. VOTE: Ayes 3, Nays 0; Flint and Peterson <br />Abstained. <br />PAGE 2 <br />• <br />• <br />