HomeMy WebLinkAbout18-085CITY OF LAKEVILLE
RESOLUTION NO: 18-85
RESOLUTION AUTHORIZING FUNDING FOR CITY IMPROVEMENT PROJECT 17-02
(2017 STREET RECONSTRUCTION)
WHEREAS, City of Lakeville staff is recommending final acceptance of City Improvement
Project 17-02; and
WHEREAS, the actual costs for the surface improvements and storm sewer portions of the
project were lower than anticipated, and the actual costs for the water portion of the project were
higher than anticipated.
NOW, THEREFORE, BE IT RESOLVED, the final estimated costs of the 17-02 project
are $6,804,776. Anticipated funding sources are listed below. Staff is hereby authorized to amend
the 2018 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
2017A bond proceeds (street/storm sewer) $ 5,422,027
Tax levy 50,000
2017A bond proceeds (watermain) 1,088,797
Sewer Operating Fund 243,953
$ 6,804,776
ADOPTED by the Lakeville City Council this 20th day of August 2018
!� • '12-
nderson, Mayor
Charlene Friedges, City Cl