2016-03CITY OF CHANHASSEN
CARVER COUNTY, MINNESOTA
DATE: January 11, 2016 RESOLUTION NO: 2016-03
MOTION BY: Ryan SECONDED BY:
McDonald
RESOLUTION FOR MUNICIPAL STATE AID FUNDS ADVANCE FOR
CITY PROJECT 16-03: HIGHWAY 5 ACCELERATION LANES AND
CITY PROJECT 16-04: PARK ROAD/PARK PLACE REHABILITATION PROJECT
WHEREAS, the Municipality of Chanhassen is planning to implement Municipal State Aid Street
Project(s) in 2016 which will require State Aid funds in excess of those available in its State 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 January 5, 2016 ($1,017,881.37)
Less estimated disbursements:
Project # 194-010-15 $ 250,000.00
Project # 194-127-001 $1,100,000.00
Total Estimated Disbursement $1,350,000.00
Advance Amount (amount in excess of acct. balance) $1,350,000.00
WHEREAS, repayment of the funds so advanced will be made in accordance with the provisions of
Minnesota Statues 162.14, Subd. 6 and Minnesota Rules, Chapter 8820.1500, Subp. l Ob; 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 $1.35 Million. I hereby authorize repayments from subsequent
accruals to the Municipal State Aid Street Construction Account of said Municipality of future year allocations
until fully repaid.
Passed and adopted by the Chanhassen City Council this 111 day of January, 2016.
ATTEST•
�Z
Todd Gerhardt, City Manager
YES NO
Laufenburger None
Campion
McDonald
Ryan
Tjornhom
Alw,e,9 a�
enny Laufen urger, M or
ABSENT
None