HomeMy WebLinkAbout24-118 Resolution Ordering Improvements and Authorizing the Preparation of Plans and Specifications for the 2025 Street Reconstruction Project 25-02 CITY OF LAKEVILLE
RESOLUTION NO. 24- � (�
Resolution Ordering Improvements and Authorizing the Preparation of Plans and
Specifications for the 2025 Street Reconstruction Project 25-02
WHEREAS, on October 21, 2024, the City Council fixed a date for the public hearing on
the 2025 Street Reconstruction Project. The project will include portions of roads located within
the following developments and lands: Cherry View 2nd Addition, Cherrywood Heights, Creek
View 2nd Addition, and Foxborough Addition, City Project 25-02;and
WHEREAS,the required published notices of hearing through a weekly publication were
given, the required mailed notice of the improvement hearing was given to each property owner
in the proposed assessment area at least ten days prior to the hearing,and the hearing was held on
November 18, 2024, at which time all persons desiring to be heard were given an opportunity to
be heard.
NOW, THEREFORE, BE IT RESOLVED,by the City Council of the City of Lakeville:
1. The 2025 Street Reconstruction Project improvement is necessary, cost-effective, and
feasible as detailed in the feasibility report.
2. Such improvement has no relationship to the comprehensive plan.
3. The 2025 Street Reconstruction Project is hereby ordered as identified in the Feasibiliry
Report for City Project 25-02,dated October 21, 2024.
4. The City expects to issue bonds for the project.
5. The estimated project costs $6,354,346 and anticipated funding sources are listed below.
City staff is hereby authorized to make the appropriate transfers between funds with respect
to the non-debt 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 bond proceeds.
Antici�ated Funding Sources Amount
G.O. Improvement Bonds - Taxes (Reclamation) $1,378,026
G.O. Improvement Bonds - Sp. Assessments (Reclamation) $593,123
G.O. Improvement Bonds - Taxes (Mill &Overlay) $1,955,988
Water Operating Fund (Combined) $2,079,038
Sanitary Sewer Operating Fund (Combined) $88,076
Stormwater Infrastructure Fund (Combined) $260,095
Total $6,354,346
6. WSB is hereby authorized to prepare plans and specifications for the making of such
improvements.
ADOPTED by the Lakeville City Council this 18�''day of November 2024.
�— vG`
Joshua Lee, Acting ayor
Ann Orl fsky, City Clerk