HomeMy WebLinkAbout12-194 State Aid Advance
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 1 2 - 194
A RESOLUTION REQUESTING THE ADVANCEMENT OF STATE AID FUNDS
Motion By: Hedberg Second By: Soukup
WHEREAS, The City of Prior Lake is implementing Municipal State Aid Street Projects in 2013 which
will require State Aid funds in excess of those available in its State Aid Construction
Account; and
WHEREAS, The City of Prior Lake is prepared to proceed with the construction of said projects
through the use of advance ment of encumbrances from the general State Aid
Construction Account to supplement the available funds in their State Aid Construction
Account; and
WHEREAS, Repayment of funds so advanced will be made in accor dance with the provisions of
Minnesota Statutes 162.14, Subdivision 6 and Minnesota Rules Chapter 8820.
NOW THEREF ORE , 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. The Commissioner of Transportation is hereby requested to approve this advance for financing
approved Municipal State Aid Street Projects of the City of Prior Lake up to an amount of $400,000 in
accordance with State Aid Rules.
3. Repayments from the 2014 accrual to the Municipal State Aid Street Construction Account of the City of
Prior Lake is hereby authorized.
PASSED AND ADOPTED THIS 26th DAY OF NOVEMBER 201 2 .
YES NO
Myser X Myser
Erickson X Erickson
Hedberg X Hedberg
Keeney X Keeney
Soukup X Soukup
______________________________
Frank Boyles, City Manager