HomeMy WebLinkAbout07-187 SALT 512(4/04) 07-187
MUNICIPAL
• STATE AID STREET FUNDS ADVANCE RESOLUTION
WHEREAS, the Municipality of Lakeville (188) is planning to implement Municipal State Aid Street Project(s) in 2007 which will
require State Aid funds in excess of those available in its State Aid Construction Account, and
WHEREAS, said municipality is prepared to proceed with the construction of said project(s) through the use of an advance from the
Municipal State Aid Street Fund to supplement the available funds in their State Aid Construction Account, and
WHEREAS, the advance is based on the following determination of estimated expenditures:
Account Balance as of date November 1, 2007 $ 0.00
Less estimated disbursements:
Project # 188-20-016 $ 1,075,766.19
Project# 188-129-01 $ 618,179.27
Project # 188-118-02 $ 467,687.97
Project # 188-110-07 $ 1,270,481.70
Bond Principle (if any) $
Project Finals (overruns-if any) $See attached requests for final payment
Other $
Total Estimated Disbursements $ 3,432,115.13
Advance Amount (amount in excess of acct balance) $ 3,432,115.13
WHEREAS, repayment of the funds so advanced will be made in accordance with the provisions of Minnesota Statutes 162.14,
~ubd. 6 and Minnesota Rules, Chapter 8820.1500, Subp. lOb, and
WHEREAS, the Municipality acknowledges advance funds are released on afirst-come-first-serve basis and this resolution does
not guarantee the availability of funds.
NOW, THEREFORE, Be It Resolved: That the Commissioner of Transportation be and is hereby requested to approve this
advance for fmancing approved Municipal State Aid Street Project(s) of the Municipality of Lakeville (188) in an amount up to
$3,432,115.13. I hereby authorize repayments from subsequent accruals to the Municipal State Aid Street Construction Account of
said Municipality in accordance with the schedule herein indicated: (initial one)
_X_Repayment from entire future year allocations until fully repaid.
-Repayment in equal annual installments
-Repayment from future year allocations in amounts listed below until fully repaid (maximum 5 year repayment).
$ CY $ CY $ CY
$ CY $ CY
CIT A VIL
By
H ly ahl Ma or
I HEREBY CERTIFY that the above is a true and correct copy of a resolution presented to and adopted by the Municipality of
Lakeville (188), County of Dakota, State of Minnesota,. at a duly authorized Municipal Council Meeting held in the Municipality of
Lakeville, Minnesota on the 5`~' day of November, 2007, as disclosed by the records of said Municipality on file and of record in the
office.
Municipality of Lakeville (188)
Charlene Friedges, City Cler