HomeMy WebLinkAbout11-090 Funding Boudin's Phase I, Proj # 11-011
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 1 1 - 090
A RESOLUTION IDENTIFYING THE FUNDING SOURCES FOR THE BOUDINS PHASE I
IMPROVEMENT PROJECT (CITY PROJECT #11 - 011)
Motion By: Hedberg Second By: Keeney
WHEREAS, The proposed City funding sources for this project are as follows:
City Funding
General Obligation 429 Bonds $1, 650,195.18
Water Fund $ 613,841.21
Sewer Fund $ 230,141.32
Water Quality Fund $ 160,775.26
Private Driveway Construction $ 82,635.57
Total City Funding $2,737, 588.54
NOW THEREFORE , BE IT HEREBY RESOLVE D BY T HE CITY COUNCIL OF P RIOR LAKE,
MINNESOTA as follows:
1. The recitals set forth above are incorporated herein.
2. Construction costs will be recorded in t he Construction Fund (#501 - 48371 - 501) for the Boudins Phase I
Improvements .
3. City Staff is authorized to tran sfer the following amounts to the Construction Fund account #501 - 39203 :
Water Fund ($ 613,841.21 ) # 601 - 49303
Sewer Fund ($ 230,141.32 ) # 60 4 - 49303
W ater Quality Fund ($ 160,775.26 ) # 602 - 49303
4. P roceeds from the bond sale will be de posited in the Construction Fund.
PASSED AND ADOPTED THIS 1 DAY OF AUGUST 201 1 .
ST
YES NO
Myser X Myser
Erickson X Erickson
Hedberg X Hedberg
Keeney X Keeney
Soukup X Soukup
______________________________
Frank Boyl es, City Manager