HomeMy WebLinkAbout12-180 Project #13-011 Sunset Ave
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 1 2 - 180
ORDERING 2013 IMPROVEMENTS AND PREPARATION OF PLANS AND SPECIFICATIONS FOR
SUNSET AVENUE (PROJECT #13 - 011 ) ; FINANCING THE 2013 SUNSET AVENUE IMPROVEMENT
PROJECT TO BE UNDERTAKEN BY THE CITY AND ESTABLISHING COMPLIANCE WITH
REIMBURSEMENT BOND REGULATIONS UNDER THE INTERNAL REVENUE CODE
Motion By: Hedberg Second By: Erickson
WHEREAS, the Prior Lake City Council on its own initiative has determined that it desires to complete the 2013
Public Improvement Project to Sunset Avenue ; and
WH REAS, on October 8, 2012; the City Council adopted Resolution 12 - 167 accep ting the Feasibility Report and
calling for a Public Hearing to be held on the 2013 Sunset Avenue Improvement Project which includes
sanitary sewer, watermain, storm sewer, aggreg ate base, concrete curb and gutter, bituminous
surfacing, and appurtenant work ; and
WHEREAS, ten days mailed notice and two weeks published notice of the hearing was given, and the hearing was
held on the 13 day of November, 2012, at which time all pers ons desiring to be heard were given an
th
opportunity to be heard thereon; and
WHERE S, since the project was initiated by the City Council it must be approved by 4/5ths vote in accordance with
Minnesota Statutes 429.031 Subdivision 1(f) ; and
NOW THEREFORE , BE IT HEREBY RESOLVE D BY THE CITY COUNCI L OF PRIOR LAKE,
MINNESOTA as follows:
1. The recitals set forth above are incorporated herein.
2. Such improvement is necessary, cost - effective, and feasible as detailed in the feasibility report.
3. The City Engineer is h ereby authorized to prepare plans and specifications for the improvements
delineated in City Council Resolution 12 - 167 adopted on October 8, 2012 and by the required statutory
4/5ths vote does hereby order the project .
4. The City Engineer is hereby designate d as the Engineer for these improvements and is authorized to
record engineering expenses in the Construction Fund (#501 - 48374) .
5. The Engineer shall prepare plans and specifications for the making of such improvements for the 2013
Improvements to Sunset Ave nue.
6. The City Council authorizes the following preliminary funding sources and corresponding transfers to
the Construction Fund for the project:
Assessments $778,586
Tax Levy $377,701
Sewer Fund $10,625
Trunk Fund $400,000
Clean Water Grant $169,375
Project Total Cost
$1,736,287
7. The City has determined to make a declaration of official intent (“Declaration”) to reimburse certain
estimated costs for this project from proceeds of bonds in accordance with the Internal Revenue
Service Reimbursement R egulations (Treasury Reg. 1.150 - 2).
8. The City may declare other separate statements of reimbursement intent in connection with specific
public improvements projects as they are initiated under Minnesota Statutes Chapters 429 and 444, or
for other capital pr ojects, with the understanding that such additional declarations of reimbursement
intent will supplement this resolution. All reimbursed expenditures will be capital expenditures, costs of
issuance of the bonds, or other expenditures eligible for reimburs ement under Section 1.150 - 2(d)(3) of
the Reimbursement Regulations.
9. This Declaration has been made no later than 60 days after payment of any original expenditure to be
subject to a reimbursement allocation with respect to the proceeds of bonds, except for the following
expenditures:
a. costs of issuance of bonds;
b. costs in an amount not in excess of $100,000 or five percent of the proceeds of an issue;
or
c. “preliminary expenditures” up to an amount not in excess of 20 percent of the aggregate
issue price of the issue or issues that are reasonably expected by the City to finance the
project for which the preliminary expenditures were incurred. The term “preliminary
expenditures” includes architectural, engineering, surveying, bond issuance, and similar
costs t hat are incurred prior to commencement of acquisition, construction or rehabilitation
of a project other than land acquisition, site preparation, and similar costs incident to the
commencement of construction.
10. This Declaration is an expression of the reaso nable expectations of the City based on the facts and
circumstances known to the City as the date hereof. The anticipated original expenditures for the
Projects and the principal amount of the bonds are consistent with the City’s budgetary and financial
ci rcumstances. No sources other than proceeds of bonds to be issued by the City are, or are
reasonably expected to be reserved, allocated on a long term basis, or otherwise set aside pursuant to
the City’s budget or financial policies to pay such Project exp enditures.
11. This Declaration is intended to constitute a Declaration of the Official Intent for the purposes of the
Reimbursement Regulations.
PASSED AND ADOPTED THIS 13 DAY OF NOVEMBER 201 2 .
TH
YES NO
Myser X Myser
Erickson X Erickson
Hedberg X H edberg
Keeney X Keeney
Soukup X Soukup
______________________________
Frank Boyles, City Manager
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