HomeMy WebLinkAbout25-054 Resolution Authorizing Funding and 2024 Amendments and Transfers 2025 Street Reconstruction/Rehabilitation Project, City Project 25-02 CITY OF LAKEVILLE
RESOLUTION NO. 25-054
Resolution Authorizing Funding and 2024 Budget Amendments and Transfers
2025 Street Reconstruction/Rehabilitation Project, City Project 25-02
WHEREAS, 2025 Street Reconstruction/Rehabilitation, City project 25-02, is programmed in the
adopted Lakeville 5-year Capital Improvement Plan (2025-2029).
NOW,THEREFORE,BE IT RESOLVED,by the City Council of the City of Lakeville,Minnesota:
The estimated project cost is$6,076,544 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.
Funding Sou�ces Total
City of Lakeville (property taxes) $ 3,004,645
Special Assessments 564,768
Water Operating Fund 2,041,353
Sanitary Sewer Fund 82,367
Stormwater Infrastructure Fund 383,411
Total $ 6,076,544
ADOPTED by the Lakeville City Council this 7th day of Apri12025.
CITY OF LAKEVILLE:
.
Luke M. Hellier, Mayor
Ann Orlofs y, City Clerk