HomeMy WebLinkAboutResolution 2210 Ci.t �of OROl'�TO
�
•� RESOLUTION OF THE CITY COUNCIL
� NO. 2210
�
' • - • • ,
_ �
A RESOLUTION TO ESTABLISH AN ACCOUNT
FOR ROAD AND BRIDGE CONSTRUCTION, MAINTENANCE, .
AND REPAIR PROJECTS '
WHEREAS, the City of Orono has need of a funding source
for the major road/bridge construction, maintenance and repair
projects not covered by the normal street department operating
budget or by the Municipal State Aid system; and
WHEREAS, the Municipal State Aid Construction Fund has
accumulated interest earnings, not now required for MSA projects .
NOW, THEREFORE BE IT RESOLVED, that the accumulated
interest earnings through December 31 , 1986 of $ 100 ,686.36 be
• transferred from the Municipal State Aid Construction Fund to
establish the PIR Fund Account for Road and Bridge Construction,
Maintenance and Repair Projects; that the 1987 and future
interest earnings be credited to said Account.
BE IT FIIRTHER RESOLVED, that expenditures from said
Account are restricted to road and bridge projects, as approved
by Council. " ' �
Adopted by the Orono City Council of the City of Orono,
Minnesota at a regular meeting held June 22, 1987 .
Jame R. Grabe , Mayor
ATT ST:
. „
, ,
orothy . Hallin, City Clerk •
�