HomeMy WebLinkAboutResolution 2669 �. .
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L=� City o� ORONO
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� ��� RESOLUTION OF THE CITY COUNCIL
i` � � NO. 2669
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A RESOLIITION TO AMEND RESOLIITION #941
WHICH ESTABLISHSD THE EMSRGENCY CONTINGENCY ACCOIINT
WITHIN THE GENERAI. FIIND
B$ IT HSREBY RESOI,V$D by the City Council of the City of
Orono, Hennepin County, Minnesota:
l. The Emergency Contingency account established in the
General Fund is hereby transferred in its entirety
� to the Permanent Improvement Revolving Fund, to be
continued as the Emergency Contingency Account.
2. The Account is to continue to be restricted for use
in a catastrophic situation or for temporary
� emergency funding, and as such can only be used as a
short-term loan to other accounts or funds and must
• be repaid with interest on a schedule established
when each loan is made, with the maximum period of
24 months.
3. The amount to be provided from the General Fund
and/or the several operating funds of the City is
$30,000 annually unless other action is approved by
Council. �
4. Each loan is to be approved in advance by Council
adoption of a resolution.
Adopted by the City Council of the City of Orono,
Minnesota at a regular meeting held on July 24, 1989.
ATT T: Edward Callahan Acting Mayor
V o J .
orothy . allin, City Cler
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