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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 proj ect 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 Pazagraph 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 City of Orono on the 27th day of March, 2000, <br /> by a vote of 4 ayes and 0 nays. <br /> ATTEST: <br /> _ � �/ ` <br /> ��� � <br /> Linda S. Vee, City Clerk G riel Jabbour, Ma or <br /> Page 3 of 3 <br />