HomeMy WebLinkAbout14-171 State Aid Funds Advancement
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 14-171
A RESOLUTION REQUESTING THE ADVANCEMENT OF MUNICIPAL STATE AID FUNDS
Motion By: KEENEY Second By: MORTON
WHEREAS, The City of Prior Lake is implementing Municipal State Aid Street Projects in 2015 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 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 accordance with the provisions of Minnesota
Statutes 162.14, Subdivision 6 and Minnesota Rules Chapter 8820.
NOWTHEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL 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 $1,400,000.00 in
accordance with State Aid Rules.
3.Repayments from the 2015 accrual to the Municipal State Aid Street Construction Account of the City of
Prior Lake is hereby authorized.
PASSED AND ADOPTED THIS 10 DAY OF NOVEMBER 2014.
th
VOTE Hedberg Keeney McGuire Morton Soukup
Aye
☒☒☒☒☒
Nay
☐☐☐☐☐
Absent
☐☐☐☐☐
Abstain
☐☐☐☐☐
______________________________
Frank Boyles, City Manager