Oakes moved and Reinke seconded that the following resolution be adopted:

RESOLUTION 02-012

RESOLUTION ALLOCATING CAPITAL PROJECT FUNDS

BE IT AND IT IS HEREBY RESOLVED by the Council of the City of Ortonville, Minnesota that the certain unallocated funds be hereby approved and allocated for specific capital projects as follows:

1. $500,000 from the Sanitary Sewer Fund for the Sewer Lagoon Improvement Project
2. $500,000 from the Light Fund for annual $100,000 transfers to be applied to the 1998 Street & Underground Utility Improvement project bond payments.
3. $700,000 from the Light Fund for the Electrical Distribution System Upgrade project – and acknowledging that there is still another $500,000 required for said project from future allocations.

Upon roll call vote the following voted aye: Dinnel, Reinke, Berkner, Arndt, Sellin, Oakes, and the following voted nay: none.

Resolution 02-012 passed this 4^th day of February 2002.

                                                                                    APPROVED:

                                                                                    ____________________       

David Dinnel,

Mayor

ATTEST:

_____________________

Roman C. Taffe,

City Clerk-Administrator