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3'JO ; 11 PACE 771 0 <br />RESOLUTION OF THE BOARD OF COMMISSIONERS OF LEE COUNTY FOR THE ESTABLISH- <br />MENT OF THE CAPITAL RESERVE FUND FOR THE LEE COUNTY WATER SYSTEM <br />WHEREAS, Lee County, North Carolina has made an application <br />for state funds from the Department of Health Services, Division of <br />Human Resources, to assist in funding Phase I of the county water <br />system; and <br />WHEREAS, Lee County plans to implement Phase I of the county- <br />wide water system. <br />NOW THEREFORE BE IT RESOLVED by the board of commissioners <br />of Lee County, North Carolina that Lee County shall establish the Capi- <br />tal Reserve fund into which 5% of all surplus revenues from charges and <br />fees of operating Phase I of the water system for the purpose of oper- <br />ating maintenance administration and the reasonable expansion of the <br />system. <br />ADOPTED this 24th day of June, 1985 at Lee County, North <br />Carolina. <br />Dr. John Dotterer, Chairman <br />ATTEST: <br />K. R. Hoyle, Clerk <br />