2007-72
CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
DATE: November 26,2007
RESOLUTION NO:
2007-72
MOTION BY: Litsey
SECONDED BY:
Ernst
A RESOLUTION APPROVING MUNICIPAL STATE AID STREET FUNDS
ADVANCE FOR LYMAN BOULEVARD IMPROVEMENTS
PROJECT NO. 06-03
WHEREAS, the Municipality of Chanhassen is planning to implement Municipal State Aid
Street Project(s) in 2008 which will require State Aid funds in excess of those available in its State
Aid Construction Account; and
WHEREAS, said municipality is prepared to proceed with the construction of said
project(s) through the use of an advance from the Municipal State Aid Street Fund to supplement
the available funds in their State Aid Construction Account; and
WHEREAS, the advance is based on the following determination of estimated
expenditures:
Account Balance as of date 11/19/07
$
-0-
Less estimated disbursements:
Project # 194-020-008 $ 1,500,000.00
Total Estimated Disbursements $ 1,500,000.00
Advance Amount (amount in excess of acct balance) $ 1,500,000.00
WHEREAS, repayment of the funds so advanced will be made in accordance with the
provisions of Minnesota Statutes 162.14, Subd. 6 and Minnesota Rules, Chapter 8820.1500,
Subp.10b,and
WHEREAS, the Municipality acknowledges advance funds are released on a first-come-
first-serve basis and this resolution does not guarantee the availability of funds.
NOW, THEREFORE, BE IT RESOLVED that the Commissioner of Transportation be
and is hereby requested to approve this advance for financing approved Municipal State Aid
Street Project(s) of the Municipality of Chanhassen in an amount up to $ 1,5002000.00 · I
hereby authorize repayments from subsequent accruals to the Municipal State Aid Street
Construction Account of said Municipality in accordance with the schedule herein indicated:
l Repayment from entire future year allocations until fully repaid.
Passed and adopted by the Chanhassen City Council this 26th day of November, 2007.
ATrEST:
To
YES
Furlong
Ernst
Litsey
Peterson
Tjornhom
NO
None
ABSENT
None