HomeMy WebLinkAbout12-135 CIP Street Reconstruction Plan
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 1 2 - 135
A RESOLUTION ADOPTING THE STREET RECONSTRUCTION PLAN AND THE INTENT TO ISSUE
GENERAL OBLIGATION STREET RECONSTRUCTION BONDS
Motion By: Hedberg Second By: Soukup
WHEREAS, The following table identifies the Street Reconstruction Plan financing elements:
Year Improvement Total City Estimated Estimated
Cost Reconstruction Total
Bonds Bonding
201 3 Fish Point Road $38 0,000 $0 $0
2013 Main Ave/Ridgemont $2,125,000 $1,35 0,000 $1,35 0,000
2013 Welcome Avenue Industrial $2,081,000 $ 0 $ 1, 170 ,000
2013 CR 12 Phase IV $1,86 0,000 $0 $635 ,000
2013 Sunset Avenue and Lift Station $1,800,000 $0 $1,300,000
2014 CR 21/Fountain Hills Signal $30 0,000 $ 100,00 0 $10 0,000
2014 Stemmer Ridge Road $1,856 ,000 $ 0 $ 1,1 00,00 0
2014 Mushtown/Maple/Panama $ 2,130 ,000 $0 $2,10 0,000
2014 Carriage Hills Rehabilitation $ 750,000 $ 700,000 $ 700,000
2014 Franklin Trail Rehabilitation $ 950,000 $ 750,000 $ 750,000
2015 Maplewood $375,000 $0 $275,000
2015 TH 13/150 Street $1,560,000 $650,000 $ 650,00 0
th
2015 Duluth Av enue / TH 13 Signal $15 0,000 $50,000 $ 50,00 0
2015 Grainwood/Eau Claire $1,400 ,000 $ 0 $ 985,000
2015 Albany $230,000 $0 $160,000
2015 Highland/ Marsh/Skyline $2,80 5 ,000 $ 0 $1,4 00 ,000
2015 CR 83 Coop Agreement $57,000 $57,000 $57,00 0
2016 Crest Avenue Re habilitation $1,70 0,000 $ 1,450,00 0 $1,45 0,000
2016 Wagon Bridge Crossing $150,000 $150,000 $150,000
2016 Credit River Road $2,250 ,000 $0 $ 1,20 0,000
2016 CR 21/Main/Pleasant $3,000,000 $1,500,000 $ 1,500,00 0
2017 CR 42/TH 13 (Boone to Louisiana) $300,000 $0 $0
2017 Balsam/Sunrise $1,105,000 $0 $775,000
2017 Manitou Road $1,550,000 $0 $1,10 0,000
Total $ 30,864,000 $6,757 ,000 $18,957,000
;and
WHEREAS, Issuing general obligation bonds is one mechanism to fund street reconstruction pro jects.
Adopting a Street Reconstruction Plan with the intent to issue general obligation street
reconstruction bonds does not require the City to utilize this mechanism; and
WHEREAS, The total estimated general obligation street reconstruction bonds fo r the 5 - year program is
$ 6,75 7 ,000; and
WHEREAS, Street reconstruction is necessary to provide residents the opportunity of safe travel while
commuting throughout the City.
NOW THEREFORE , BE IT HEREBY RESOLVE D BY THE CITY COUNCI L OF PRIOR LAKE,
MINNES OTA as follows:
1. The recitals set forth above are incorporated herein.
2. The City Council authorizes the adoption of the S treet Reconstruction Plan with the intent to issue
general obligation street reconstruction bonds
PASSED AND ADOPTED THIS 27 th DAY OF A UGUST 201 2 .
YES NO
Myser X Myser
Erickson X Erickson
Hedberg X Hedberg
Keeney X Keeney
Soukup X Soukup
______________________________
Frank Boyles, City Manager
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