HomeMy WebLinkAbout13-081STATE AID FOR LOCAL TRANSPORTATION
Municipal State Aid Street Funds Advance Resolution
January 2009
Page 1 of 1
Resolution No. 13 -81
WHEREAS, the Municipality of Lakeville is planning to implement Municipal State Aid Street Project(s) in 2014 which
will require State Aid funds in excess of those available in its State Aid Construction Account, and
WHEREAS, said municipality is prepared to proceed with the construction of said project(s) through the use of an
advance from the Municipal State Aid Street Fund to supplement the available funds in their State Aid Construction
Account, and
WHEREAS, the advance is based on the following determination of estimated expenditures:
Account Balance as of date September 12, 2013
Less estimated disbursements:
Project # 188- 107 -002
Project # 188 - 020 -022
Project # 188- 020 -021
Project #
Bond Principle (if any)
Project Finals (overruns -if any)
Other
$ 237,046.00
$ 2,188,856.00
$ 3,763,432.00
$ 817, 310.00
Total Estimated Disbursements $ 6,189.334.00
Advance Amount (amount in excess of acct balance) $ 4,000,000.00 (Max. Advance Amount)
WHEREAS, repayment of the funds so advanced will be made in accordance with the provisions of Minnesota
Statutes 162.14, Subd. 6 and Minnesota Rules, Chapter 8820.1500, Subp. 10b, and
WHEREAS, the Municipality acknowledges advance funds are released on a first - come - first -serve basis and this
resolution does not guarantee the availability of funds.
NOW, THEREFORE, Be It Resolved: That the Commissioner of Transportation be and is hereby requested to
approve this advance for financing approved Municipal State Aid Street Project(s) of the Municipality of Lakeville in an
amount up to $ 4,000,000.00 1 hereby authorize repayments from subsequent accruals to the Municipal State Aid Street
Construction Account of said Municipality from future year allocations until fully repaid.
I HEREBY CERTIFY that the above is a true and correct copy of a resolution presented to and adopted by the
Municipality of Lakeville County of Dakota State of Minnesota, at a duly authorized Municipal Council Meeting held in the
Municipality of Lakeville Minnesota on the 16 day of September 2013, as disclosed by the records of said Municipality
on file and of record in the office. —11
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