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� ' " <br /> • REGULAR MEETING OF THE ORONO COUNCIL, AUGUST 8, 1977 Page 27 <br /> � Over the past several years, the City has used FEDER.AL REVENUE SHARING <br /> the majority of Revenue Sharing Funds to acquire (Continued) <br /> ! ^.apital equipment and machinery, although <br /> some monies have been expended for operations and <br /> � maintenance. <br /> � Prior to the Proposed Use Hearing, staff will <br /> � develop proposed uses consistent with established <br /> past uses and will present these to Council for <br /> consideration. <br /> • Council Meeting - August 8, 1977 <br /> + Butler moved, Paurus seconded, to schedule the PUBLIC HEARING DATE <br /> � public hearing for Revenue Sharing Funds on Revenue Sharing <br /> Monday, August 22 , 1977 at 7: 15 P.M, instead August 22, 1977 <br /> � of the proposed date of Wednesday, August 24 , <br /> 1977 at 7: 00 P.M. Motion, Ayes (3) - Nays (0) . <br /> � <br /> � The following memo was presented to the City 1978 BUDGET <br /> � Council concerning the 1978 budget,dated <br /> August 8, 1977, which states : <br /> � The preliminary budget has been tabulated and, <br /> � at this point, the expenditure requests exceed <br /> the revenue estimates by $71,930. Staff will do <br /> � all that it can to eliminate this deficit. <br /> �ssuming, however, that the budget cannot be <br /> cut to that extent, there is an alternative <br /> � available to the City. <br /> �, The State Legislature has made an important <br /> change concerning the adjustment of the levy <br /> r limit based by a reverse referendum, which may <br /> be used in 1977 or 1978 to increase the levy <br /> � limit base up to ten percent without a penalty. <br /> . This adjustment may be instituted if the City <br /> levied at least 98% of its total limited levy <br /> � amount in the preceding levy year, which we did. <br /> The procedure then is as follows : <br /> � <br /> l. The City determines amount of additional <br /> � levy and passes resolution. <br /> 2. Notice of public hearing must be published <br /> � along with resolution for at least four weeks. <br /> � 3. Hold public hearing not sooner than four weeks <br /> after first publication and determine which of <br /> ` the following action is to be taken. <br /> � a. No action <br /> b. Adopt resolution approving levy in a lesser <br /> • amount. <br /> � c. Adopt resolution approving levy as originally <br /> approved. (Continued) <br /> � <br /> + <br /> � <br />