HomeMy WebLinkAbout15-020 Order Duluth Project
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 15-020
A RESOLUTION ACCEPTING THE FEASIBILITY REPORT AND ORDERING THE IMPROVEMENTS
FOR A MODIFIED CONCEPT 2 AND THE PREPARATION OF PLANS AND SPECIFICATIONS FOR
THE DULUTH AVENUE INTERSECTION IMPROVEMENT PROJECT (TRN15-000003); FINANCING THE
DULUTH AVENUE INTERSECTION IMPROVEMENT PROJECT TO BE UNDERTAKEN BY THE
CITY AND ESTABLISHING COMPLIANCE WITH REIMBURSEMENT BOND REGULATIONS
UNDER THE INTERNAL REVENUE CODE
Motion By: MCGUIRE Second By: KEENEY
WHEREAS, Pursuant to Resolution 14-135, the City Council, on September 8, 2014 ordered a Feasibility
Report to be prepared by the City’s Engineering Department with reference to the Duluth
Avenue Intersection Project; and
WHEREAS, The Feasibility Report for the Duluth Avenue Intersection Project dated January 2015 contains
information that the proposed project is necessary, cost effective, and feasible; and
WHEREAS, the Prior Lake City Council on its own initiative has determined that it desires to complete the
Public Improvement Project to the Duluth Avenue Intersection at Highway 13; and
WHREAS, the Feasibility Report for the Duluth Avenue Intersection Project includes signal replacement,
storm sewer, aggregate base, concrete curb and gutter, bituminous surfacing, and appurtenant
work.
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.Such improvement is necessary, cost-effective, and feasible as detailed in the feasibility report.
3.The City Council hereby accepts the Feasibility Report as submitted.
4.The City Engineer is hereby authorized to prepare plans and specifications for the improvements
delineated in feasibility report for Concept 2 with the median not extending across the Anna Trail access.
5.The City Engineer is hereby directed to discuss an access change with MNDOT for the Village Lake Mall
property whereby the current access from TH 13 is shifted to the south to be more centrally located.
6.The City Engineer is hereby designated as the Engineer for these improvements and is authorized to
record engineering expenses in the Construction Fund (#501-43500.00-55020-TRN15-000003).
7.The Engineer shall prepare plans and specifications for the making of such improvements for the Duluth
Avenue Intersection.
8.The City Council authorizes the following preliminary funding sources and corresponding transfers to the
Construction Fund for the project:
MNDOT $207,540
Municipal State Aid $200,000
Tax Levy $774,020
Project Total Cost
$1,181,560
9.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).
10.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 projects, 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 reimbursement under Section 1.150-2(d)(3) of
the Reimbursement Regulations.
11.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 that 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.
12.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 basis, or otherwise set aside pursuant to the City’s
budget or financial policies to pay such Project expenditures.
13.This Declaration is intended to constitute a Declaration of the Official Intent for the purposes of the
Reimbursement Regulations.
PASSED AND ADOPTED THIS 26 DAY OF JANUARY 2015.
TH
VOTE Hedberg Keeney McGuire Morton Thompson
Aye
☒☒☒☒☐
Nay
☐☐☐☐☐
Abstain
☐☐☐☐☐
Absent
☐☐☐☐☒
Frank Boyles, City Manager
2