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• <br />RESOLUTION # 500 <br />A RESOLUTION ESTABLISHING THE IMPROVEMENT AND <br />EQUIPMENT OUTLAY FUND <br />WHEREAS, the Village of Orono wishes to establish a fund <br />to be designated: "Improvement and Equipment: Outlay Fund", and <br />WHEREAS, the purpose of said fund shall sae to provide a <br />source of funds for loan or subsidy for equipment purcha35s, capital <br />improvement outlays and similar purposes, and <br />WHEREAS, any appropriation made from this fund other t`l n <br />at budget time will be made for replacement of equipment that ber;amc <br />unusable unexpectedly, and <br />WHEREAS, this fund is not a "Public Works Reserve Fund" as <br />provided for by Minnesota Statutes 471.0 and shall not authorize a <br />tax levy for this purpose of supporting said fund and its purposes <br />as authorized above, <br />NOW, THEREFORE, BE IT RESOLVED that the*,' ' fie sum of $10, 000 <br />be transferred from the General Fund to the Improvinent and Equipment. <br />• Outlay Fund. <br />Adopted by the Village Council of the Village of Orono, Minnesota at <br />a regular meeting held June 11, 19730 <br />oil � <br />Gills o er auser,7 ayo <br />Attest. = ��2�,� �` �-fir✓ <br />James W� Cosby, Clem dministrator <br />0 <br />