HomeMy WebLinkAbout12-181 Project #12-002 CR 12 Improvement Project
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 1 2 - 181
ORDERING 2013 IMPROVEMENTS AND PREPARATION OF PLANS AND SPECIFICATIONS FOR
COUNTY ROAD 12 (PROJECT #12 - 00 2 ) ; FINANCING THE COUNTY ROAD 12 I MPROVEMENT
PROJECT TO BE UNDERTAKEN BY THE CITY AND ESTABLISHING COMPLIANCE WITH
REIMBURSEMENT BON D REGULATIONS UNDER THE INTERNAL REVENUE CODE
Motion By: Soukup Second By: Hedberg
WHEREAS, the Prior Lake City Council on its own initiative has determined that it desires to complete the 2013
Public Improvement Project to County Road 12 ; and
WH RE AS, on October 8, 2012; the City Council adopted Resolution 12 - 168 accep ting the Feasibility Report and
calling for a Public Hearing to be held on the County Road 12 Improvement Project which includes
sanitary sewer, watermain, storm sewer, aggregate 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 persons desir ing 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 HE REBY RESOLVED BY THE CITY COUNCIL OF PRIO R 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 hereby aut horized to prepare plans and specifications for the improvements
delineated i n City Council Resolution 12 - 168 adopted on October 8, 2012 and by the required statutory
4/5ths vote does hereby order the project .
4. The City Engineer is hereby designated as the Engineer for these improvements and is authorized to
record engineering expenses in t he Construction Fund (#501 - 48375 ) .
5. The Engineer shall prepare plans and specifications for the making of such improvements for the 20 13
Improvements to County Road 12 .
6. Th e City Council authorizes the following preliminary funding sources and corresponding transfers to
the Construction Fund for the project:
Assessments $439,325
Tax Levy $65,953
State Aid $200,000
Clean Water Grant $126,875
Water Fund $45,277
Sewer Fun d $59,940
Trunk Fund $748,348
Water Quality Fund $120,000
WSD Grant $214,750
Scott County $1,344,090
Project Total Cost
$3,364,560
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 Regulations (Treasury Reg. 1.150 - 2).
8. The City may declare other separate statements of reimbursement intent in connection with specific
public improvemen ts projects as they are initiated under Minnesota Statutes Chapters 429 and 444, or
for other capital projects, with the understanding that such additional declarations of reimbursement
intent will supplement this resolution. All reimbursed expenditures w ill be capital expenditures, costs of
issuance of the bonds, or other expenditures eligible for reimbursement 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 e xpenditure 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 “prel iminary
expenditures” includes architectural, engineering, surveying, bond issuance, and similar
costs that are incurred prior to commencement of acquisition, construction or rehabilitation
of a project other than land acquisition, site preparation, and si milar costs incident to the
commencement of construction.
10. This Declaration is an expression of the reasonable 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
circumstances. 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 b asis, or otherwise set aside pursuant to
the City’s budget or financial policies to pay such Project expenditures.
11. This Declaration is intended to constitute a Declaration of the Official Intent for the purposes of the
Reimbursement Regulations.
PASSED AN D ADOPTED THIS 13 DAY OF NOVEMBER 201 2 .
TH
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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