HomeMy WebLinkAbout17-193CITY OF LAKEVILLE
RESOLUTION NO: 17-193
RESOLUTION AUTHORIZING FUNDING FOR CITY IMPROVEMENT
PROJECT 16-02 (2016 STREET RECONSTRUCTION)
WHEREAS, the City of Lakeville has completed the final acceptance of City Improvement
project 16-02; and
WHEREAS, the actual costs for the surface improvements and storm sewer portions of the
project were higher than anticipated.
NOW, THEREFORE, BE IT RESOLVED the final estimated costs of the 16-02 project
are $11,980,468. Anticipated funding sources are listed below. Staff is hereby authorized to
amend the 2017 budgets and make the appropriate transfers between funds with respect to the
funding sources up to 10% above the estimated costs.
Anticipated Funding Source Amount
2016B bond proceeds- designated for 16-02 project $ 8,539,370
20168 bond proceeds- designated for 15-02 phase 2 project 250,000
Tax levy 50,000
Water Operating Fund 2,655,543
Sewer Operating Fund 210,240
Storm Sewer Trunk Fund 77,762
Water Trunk Fund 9,932
Pavement Management Fund 187,621
$ 11,980,468
ADOPTED by the Lakeville City Council this 18th day of December 2017
Douglas Anderson, Mayor
Charlene Friedges, City Cl