HomeMy WebLinkAboutResolution 2489� �:y;:
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; �,� , RESOLUTION OF THE CITY COUNCIL
�'. �� � NO. 2489
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TRANSFER OF MONIES FROM THE GENERAL FUND
TO THE P.I.R. FUND FOR COUNTY ROAD 15 STREET LIGHTING
WITH REPAYMENT FROM SPECIAL ASSESSMENTS LEVIED
AGAINST BENEFITTING PROPERTIES IN THE PROJECT AREA
WHER�AS, the P.I.R. Fund has inadequate monies available
at this time due to other commitments; and
WHEREAS , the General Fund does have adequate monies
available to provide a temporary funding source.
NOW, THE�FOItE BE IT R�SOLVED, by the City Council of
the City of Orono, Minnesota, that: �
1. The General Fund transfer $ 113 ,54fd.94 to the P.I.R.
Fund, to be used to pay the construction costs of tt�e
County Road 15 street light project , and
• 2. The transfer is considered a loan and is subject to
repayment from the P.I.R. Fund to the General Fund from
special assessments to be levied against properties
• determined to benefit from the project of both principal
and interest levied under the special assessment.
Adopted by the City Council of the City of Orono,
Minnesota at a regular meeting held August 22, 1988 .
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. _ Jam s R. Grab`k�--�ia�r
� – ATT T: ��-
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– ``-l�' -- – --
orothy M.� allin, City Clerk�
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