HomeMy WebLinkAbout20-029CITY OF LAKEVILLE
RESOLUTION NO. 20-29
RESOLUTION AUTHORIZING FUNDING FOR
2020 STREET RECONSTRUCTION PROJECT
CITY PROJECT 20-02
WHEREAS, 2020 Street Reconstruction Project, City Project 20-02, is programmed in the adopted
Lakeville 5 -year Capital Improvement Plan (2020-2024).
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lakeville, Minnesota:
The estimated project cost is $11,366,047; and anticipated funding sources are listed below. City
staff is hereby authorized to amend the 2020 budgets and make the appropriate transfers between
funds with respect to the project funding sources up to 10% above the estimated costs. Funding
transfers may include loans between funds to cover engineering and other costs incurred on the
project in advance of receiving other funding.
Funding Sources
Amount
City of Lakeville (Property Taxes)
$6,243,342
Special Assessments
$3,453,726
Water Operating Fund
$1,098,253
Sanitary Sewer Operating Fund
$320,676
Environmental Resources Fund
$170,274
Park Improvements (split funding/bonds)
$79,776
Total
$11,366,047
ADOPTED by the Lakeville City Council this 6th day of April 2020
Douglas P. Anderson, Mayor
Charlene Friedges, City