HomeMy WebLinkAbout25-006 Resolution Authorizing Funding and 2025 Budget Amendments and Transfers for Citywide Trail Gap Improvements (Phase II), City Project 23-06 CITY OF LAKEVILLE
RESOLUTION NO. 25-006
Resolution Authorizing Funding and 2025 Budget Amendments and Transfers for
Citywide Trail Gap Improvements (Phase II)
City Project 23-06
WHEREAS,the Citywide Trail Gap Improvements (Phase II),City Project 23-06,is programed in
the adopted Lakeville 5-year Capital Improvement Plan (2025-2029).
NOW, THEREFORE, BE IT RESOLVED by the City Council of Lakeville,Minnesota:
The estimated project cost is$1,218,833 and anticipated funding sources are listed below.City staff
is hereby authorized to amend the 2025 budgets (if needed as the project is completed) 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. City staff is also
hereby authorized to allocate costs to the Park Dedication Fund if necessary after the bond funds
and Dakota County funding is utilized.
Funding Source Amount
Dakota County $ 560,000
Park Bond Referendum $ 695,000
Storm Water Infrastructure Fund $ 65,000
$ 1,320,000
ADOPTED by the Lakeville City Council this 6`�day of January 2025.
CITY OF LAKEVILL
Luke M. Hellier, Mayor
Ann Or ofsky,City Clerk