HomeMy WebLinkAbout03-139 RESOLUTION 03-t39
A RESOLUTION REQUESTING AN ADVANCE ENCUMBRANCE
OF MUNICIPAL STATE AID FUNDS.
Motion By: PETERSEN Second By: BLOMBERG
WHEREAS, the City of Prior Lake is planning to implement Municipal State Aid Street Projects in 2003
which will require State Aid funds in excess of those available in its State Aid Construction
Account; and
WHEREAS, the City of Prior Lake is prepared to proceed with the construction of said projects through
the uses of advance encumbrances from the general State Aid Construction Account to
supplement the available funds in their State Aid Construction Account; and
WHEREAS, repayment of the funds so advanced will be made in accordance with the provisions of
Minnesota Statutes 162.14, subdivision 6 and Minnesota Rules, Chapter 8820.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE, MINNESOTA that:
1. The recitals set forth above are incorporated herein.
2. The Commissioner of Transportation be and is hereby requested to approve this advance for
financing approved Municiapl State Aid Street Projects of the City of Prior Lake in the amount of
$1,000,000 in accordance with Minnesota Rules 8820.1500, subparagraph 10b.
3. The City Council hereby authorizes repayments from entire future year allocations to the Municipal
State Aid Street Construction Account of the City of Prior Lake until fully repaid.
PASSED AND ADOPTED THIS 4th DAY OF AUGUST, 2003.
YES NO
Haugen X Haugen
Blomberg X Blomberg
LeMair X LeMair
Petersen X Petersen
Zieska X Zieska
City Manager, City of Prior Lake
16200 Eagle Creek Ave. S.E., Prior Lake, Minnesota 55372-1714 / Ph. (952) 447-4230 / Fax (952) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER