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(c) (1) (2) (3) Expenditures shall consist of the following uses: Expenses in conjunction with the operation of the Economic Development Authority; and Salaries, benefits and operating costs associated with the promotion and management of economic development activities; and Capital expenditures associated with economic development activities within the City as detailed in the annual Capital Improvement Program or as directed by the Economic Development Authority and City Council. 9. Minnesota Department of Natural Resources Grant Fund. (a) The Minnesota Department of Natural Resources Grant (DNR) Fund shall be used to account for all grant monies received from the DNR for forestry projects. (b) (1) (c) (1) (d) 10. (a) (b) (1) Funding shall consist of the following source: Grant funds from the Department of Natural Resources. Expenditures shall consist of the following uses: Allowable costs as outlined in the grant agreement. This fund is not eligible for inter-fund loans. Equipment Revolving Fund. The Equipment Revolving Fund shall be used to account for resources to finance the replacement/addition of City equipment, vehicles and/or buildings and facilities. Funding shall consist of the following sources: Transfers from the Landfill Tipping Fee Fund of seventy-five percent (75%) of tipping fees received during the life of the Anoka Regional Sanitary Landfill; and (2) Transfers from non-proprietary fund types in the amount of the annual depreciation to be held and invested in order to provide funds for the replacement of equipment, vehicles, and/or buildings and facilities; and (3) Interest earnings on the Equipment Revolving Fund from the distribution of pooled interest earnings; and (4) Transfers from the General Fund at year-end for excess General Fund Revenue as outlined in the Excess/Deficient General Fund Revenue Policy (#94-02-045). (c) (1) (2) Expenditures shall consist of the following uses: Transfers to non-proprietary fund types for costs associated with the replacement of equipment, vehicles, and/or buildings and facilities in an amount not to exceed the lesser of seventy-five percent (75%) of the replacement cost or one hundred percent (100%) of the depreciated value; and Transfers to non-proprietary fund types for costs associated with the purchase of non-replacement equipment, vehicles, and/or buildings and facilities in an mnount not to exceed fifty percent of remaining cumulative interest earnings and General Fund Excess Revenue transfers unless authorized by 2/3 majority vote of City Council. Remaining cumulative interest earnings and General Fund Excess Revenue transfer will be that balance that remains after all authorized non- replacement equipment purchases have been accounted for; and Page 5 of 13