2010-92 CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
DATE: November 8, 2010 RESOLUTION NO: 2010 -92
MOTION BY: McDonald SECONDED BY: Ernst
RESOLUTION FOR MUNICIPAL STATE AID FUNDS ADVANCE
FOR LYMAN BOULEVARD IMPROVEMENTS, PHASE I
PROJECT NO. 06-03
WHEREAS, the Municipality of Chanhassen implemented a Municipal State Aid Street Project in
2008 which required State Aid funds in excess of those available in its State Aid Construction Account, and
WHEREAS, said municipality has constructed said project 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 10/20/10 $ 73,820.00
Project No. 06 -03
Total Estimated Disbursement $ 950,000.00
Advance Amount (amount in excess of acct. balance) $ 876,180.00
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 City of Chanhassen request that the
Commissioner of Transportation approve this advance for financing approved Municipal State Aid Street
Project of the Municipality of Chanhassen in an amount up to $950,000.00 and hereby authorize
repayments from subsequent accruals to the Municipal State Aid Street Construction Account of said
Municipality from future year allocations until fully repaid.
Passed and adopted by the Chanhassen City Council this 8 day of November, 2010.
ATTEST:
...7,4(A „Hit A I.- I
Todd erhardt, City Manager Thomas A. Furlong, Mayor _ ,
YES NO ABS
Furlong
Ernst
Litsey
McDonald
Tj ornhom