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RESOLUTION NO. ")i7-/.5- <br /> A RESOLUTION authorizing the transfer <br /> of $327 , 992 within the Transit Fund from <br /> Retained Earnings to Reserve for Capital <br /> Purchases . <br /> WHEREAS , $1,946 ,854 was received during 1982 from the . 003 <br /> transit sales tax ; and <br /> * <br /> WHEREAS , $1 , 618 , 862 of these receipts were used for the <br /> City of Everett ' s local match for the 1982 Section 5 Operating <br /> Assistance grant ; and <br /> WHEREAS , these monies may be used for Capital Expenditures <br /> and the transit fleet needs expansion and replacement vehicles ; <br /> NOW , THEREFORE , BE IT RESOLVED BY THE CITY OF EVERETT CITY <br /> COUNCIL that $327 , 992 be transferred from Retained Earnings to <br /> the Reserve for Capital Purchases . <br /> Council ,,erson i "troducing Resol . <br /> Passed and approved this 4529 day of .�E C• , 1983 . <br /> C ncil President <br /> *Estimate based on 4 of 6 payments <br />