(A resolution establishing the purpose of the Capital Projects Fund)
WHEREAS, Oregon Administrative Rules recommends budgeting capital facilities costs in special revenue funds;
WHEREAS, there are $800,000 of capital facility costs estimated in the 2009-2010 General Fund budget;
WHEREAS, the governing body wishes to track capital facility costs in a capital projects fund;
NOW, THEREFORE, BE IT RESOLVED by the Urban Renewal Agency of the City of Hood River that:
The Capital Projects Fund be utilized for the tracking of capital expenditures for the Urban Renewal Agency of the City of Hood River.
Approved by the Urban Renewal Agency of the City of Hood River the 19th day of November, 2009 to take effect immediately.
Robert D. Hastings, Chairperson
Jennifer McKenzie, City Recorder