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RESOLUTION NO. /76.--S <br /> A RESOLUTION authorizing the transfer of <br /> $1 , 805 , 825 within the Transit Fund from <br /> Retained Earnings to Reserve for Capital <br /> Purchases. <br /> WHEREAS, $2 , 570 ,105 was received during 1980 from the . 003 <br /> transit sales tax; and <br /> WHEREAS, $764 , 280 of these receipts was used for the City <br /> of Everett' s local match for the 1980 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 <br /> vehicles; <br /> NOW THEREFORE BE IT RESOLVED that $1, 805 , 825 be transferred <br /> from retained earnings to the Reserve for Capital Purchases. <br /> • <br /> PASSED and APPROVED thisa7day of J - 981, <br /> ,rti <br /> C' f 'erson Intr•'.ucing Resolution <br /> Coun or,esidq t I <br />