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RESOLUTION # 500
A RESOLUTION ESTABLISHING THE IMPROVEMENT AND
EQUIPMENT OUTLAY FUND
WHEREAS, the Village of Orono wishes to establish a fund
to be designated: "Improvement and Equipment: Outlay Fund", and
WHEREAS, the purpose of said fund shall sae to provide a
source of funds for loan or subsidy for equipment purcha35s, capital
improvement outlays and similar purposes, and
WHEREAS, any appropriation made from this fund other t`l n
at budget time will be made for replacement of equipment that ber;amc
unusable unexpectedly, and
WHEREAS, this fund is not a "Public Works Reserve Fund" as
provided for by Minnesota Statutes 471.0 and shall not authorize a
tax levy for this purpose of supporting said fund and its purposes
as authorized above,
NOW, THEREFORE, BE IT RESOLVED that the*,' ' fie sum of $10, 000
be transferred from the General Fund to the Improvinent and Equipment.
• Outlay Fund.
Adopted by the Village Council of the Village of Orono, Minnesota at
a regular meeting held June 11, 19730
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Gills o er auser,7 ayo
Attest. = ��2�,� �` �-fir✓
James W� Cosby, Clem dministrator
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