HomeMy WebLinkAbout17-022 150th and TH 13 Status Update
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 17-022
A RESOLUTION AUTHORIZING FUNDING FOR THE 150TH STREET AND HIGHWAY 13
IMPROVEMENT PROJECT
(STATE PROJECT #7001-104, CITY PROJECT #TRN15-000001)
Motion By: McGuire Second By: Thompson
WHEREAS, The reconstruction of the 150th Street and TH 13 intersection was considered a priority to the
City of Prior Lake, City of Savage and MNDOT, and
WHEREAS,
WHEREAS,
WHEREAS,
The City entered into a cost sharing agreement with the City of Savage for this project; and
The project is substantially complete and final project costs are being assembled, and
Approval by Prior Lake of additional funding is necessary in accordance with the cost sharing
agreement between Savage and Prior Lake.
NOW THEREFORE, 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 Prior Lake City Council hereby authorizes funding up to $4,802,440 for the 150th and Highway 13
Improvement Project (State Project #7001-104, City Project #TRN15-000001).
3. The City Council authorizes funding for this project as shown in the following table and in accordance
with the cost sharing agreement between the City of Prior Lake and the City of Savage :
FUNDING SOURCE COST SHARING
AGREEMENT AT
TIME OF BID
(JULY, 2015
COST SHARING
AGREEMENT
CURRENT
ESTIMATE
AMOUNT OF
CHANGE
SINCE JULY
OF 2015
State Aid $1,000,000 $1,060,000 $60,000
Street Oversize Fund $250,000 $250,000 -
Tax Levy $2,516,630 $2,835,442 $318,812
General Fund Reserves - $312,000 $312,000
Water Quality Fund $60,000 $150,000 $90,000
Water Fund $12,956 $187,310 $174,354
Sewer Fund $12,956 $7,688 ($5,268)
TOTAL CITY COST $3,852,542 $4,802,440
$950,000
4. Costs will be recorded in the Construction Fund (#501-43500.00-TRN15-000001 expenditure account,
as applicable) for the 150th and TH 13 Improvement Project.
5. The City Council authorizes fund transfers into the construction fund as indicated in the above table
effective as of December 31,2016.
N:\City Council\Resolutions\2017\150th and TH 13 Status Update - Res2.docx 2
6. The City Council authorizes transfers from General Fund Reserves as deemed necessary in 2017.
7. The City Council authorizes the intent to issue General Obligation Bonds for this project.
8. Proceeds from the bond sale will be deposited in the Construction Fund.
PASSED AND ADOPTED THIS 13TH DAY OF FEBRUARY 2017.
VOTE Briggs McGuire Thompson Braid Burkart
Aye ☒ ☒ ☒ ☒ ☒
Nay ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
Absent ☐ ☐ ☐ ☐ ☐
______________________________
Frank Boyles, City Manager