HomeMy WebLinkAbout09-091 CR42/McKenna Agreement w/Scott County~ PRIG
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4646 Dakota Street S.E.
Prior Lake, MN 55372-1714
RESOLUTION 09-091
A RESOLUTION APPROVING THE COOPERATIVE AGREEMENT WITH SCOTT COUNTY FOR
THE CR 42 AND MCKENNA ROAD INTERSECTION SIGNAL PROJECT
SAP 201-118-001
Motion By: Hedberg Second By
Millar
WHEREAS With the opening of the YMCA later this year the traffic volumes at the McKenna Road
and CR 42 intersection will exceed signal warrants; and
WHEREAS, The City may receive $175,000 in American Reinvestment and Recovery Act funds
(ARRA); and
WHEREAS, The funding requires construction to begin in 2010; and
WHEREAS, In order to be in position to receive the funding and meet timeline requirements it is in
the City's best interest to execute a Cooperative Agreement with the County for the
project; and
WHEREAS, The Mayor and City Manager are authorized to execute a Cooperative Agreement with
Scott County for the CR 42 and McKenna Road Intersection Signal Project; and
WHEREAS, The final design has been completed in accordance with County and State standards;
and
WHEREAS, If the City does not receive ARRA funds the signal project will not be constructed in
2009 and Staff will bring a revised project funding resolution back for City Council
consideration in the future; and
WHEREAS, The City of Prior Lake's signal cost share is estimated to be $274,000 plus design
costs already contracted directly with SEH in the amount of $16,000, Total $290,000;
and
WHEREAS, The City has determined to make a declaration of official intent ("Declaration") to
reimburse certain estimated costs from proceeds of bonds in accordance with the
Internal Revenue Service Reimbursement Regulations (Treasury Reg. 1.150-2).
M:\COUNCIL\RESOLUTI\2009\09-091 McKenna-~21nte~~1°.~If~Bfpriorlake.com
Phone 952.447.9800 /Fax 952.447.4245
NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE,
MINNESOTA as follows:
1. The recitals set forth above are incorporated herein
2. The Mayor and City Manager are authorized to execute a Cooperative Agreement on behalf of the
City with Scott County for the CR 42 and McKenna Road Intersection Signal Project.
3. The City will reimburse Scott County an estimated $274,000 for the project.
4. Construction costs will be recorded in the Construction Fund (#501-48367-501)
5. Funding from the American Recovery & Reinvestment Act Funds ($175,000) and Municipal State
Aid ($75,000) will be recorded in the Construction Fund.
6. City staff is authorized to transfer $115,000 from the Street Oversize Fund to the Construction Fund
as an interfund loan to cash flow this project. Once the project is completed Staff is directed to
reimburse the Street Oversize Fund with any State Aid eligible costs reimbursed to the City.
7. The City reasonably expects to reimburse the expenditures not funded by the American Recovery &
Reinvestment Act and Municipal State Aid from the proceeds of bonds. Upon receipt of bond
proceeds, any remaining balance due to the Street Oversize Fund will be reimbursed.
8. Staff shall include in the 2010 bonding request the funding needed to fully reimburse the Street
Oversize Account $115,000 ($99,000 -Construction, $16,000 Design) less any Municipal State Aid
reimbursed to the account as part of the project.
9. The City Engineer is authorized to sign the CR 42/McKenna Intersection Signal Project Plans.
PASSED AND ADOPTED THIS 15T" DAY OF JUNE 2009.
YES NO
Hau en X Hau en
Erickson X Erickson
Hedber X Hedber
LeMair X LeMair
Millar X Millar
Fran oy s, i Manager
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