HomeMy WebLinkAbout6.g. Request for Municipal State Aid Street Funds Advanceh
y CITY OF ROSEMOUNT
EXECUTIVE SUMMARY FOR ACTION
CITY COUNCIL MEETING DATE: June 1, 2004
AGENDA ITEM: Request for Municipal State Aid Street Funds
Advance
AGENDA SECTION:
Consent
PREPARED BY: Andrew J. Brotzler, P.E., City Engineer
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ATTACHMENTS: Resolution
APPROVED BY:
RECOMMENDED ACTION: MOTION TO ADOPT A RESOLUTION REQUESTING
FOR MUNICIPAL STATE AID STREET FUNDS ADVANCE.
ACTION:
ISSUE:
Consider requesting advance funding from Municipal State Aid Street fund for 2004
State Aid eligible projects.
BACKGROUND:
The City is currently planning for the completion of two projects eligible for Municipal
State Aid funding. These projects are State Aid Project (SAP) #208- 010 -006, Trunk
Highway 3 Improvements and SAP #208- 104 -04, Connemara Trail Overpass. The
estimated City cost for these two projects is $300,000 for the Trunk Highway 3
Improvements and $2,000,000 for the Connemara Trail Overpass:
At this time, the City has a balance of $1,275,000 in the Municipal State Aid account for
use on state -aid eligible projects, $1,025,000 short of the estimated necessary funding.
The Municipal State Aid process allows cities to advance funds from the general
Municipal State Aid account to cover project costs in excess of the City's current
Municipal State Aid account balance.
The first step in the Municipal State Aid Funds Advance process is the submittal of a
Council adopted resolution requesting Mn /DOT approval of the advance of Municipal
State Aid funds. It should be noted that the availability of advance funds from the
general Municipal State Aid account is on a first -come, first -serve basis and funds are
not guaranteed to be available until such time that project costs are incurred. Should
the City not be successful in securing advance funds for 2004, the project schedule for
the Connemara Trail Overpass may have to be delayed until funding is available in the
City Municipal State Aid account through future annual allocations.
G:engproj/ miscellaneous /requestadvancefundingCC6 -1-04
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CITY OF ROSEMOUNT
DAKOTA COUNTY, MINNESOTA
RESOLUTION 2004 -
A RESOLUTION REQUESTING MUNICIPAL
STATE AID STREET FUNDS ADVANCE
WHEREAS, the Municipality of Rosemount is planning to implement Municipal State Aid Street
Project(s) in 2004 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 5/19/04 $1,275,000.00
Less estimated disbursements:
Project #208 -010 -006 $ 300,000
Project #208- 104 -04 $2,000,000
Total Estimated Disbursements $2,300,000.00
Advance Amount (amount in excess of acct balance) $1,025,000.00
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 Rosemount in an amount up to $1,025,000. 1 hereby authorize repayments from
subsequent accruals to the Municipal State Aid Street Construction Account of said Municipality in
accordance with the schedule herein indicated: (initial one)
Repayment from entire future year allocations until fully repaid.
X Repayment in 5 equal annual installments
Repayment from future year allocations in amounts listed below until fully repaid (maximum 5 year
repayment).
ADOPTED this 1 St day of June, 2004
William H. Droste, Mayor
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Resolution 2004 -
ATTEST:
Linda Jentink, City Clerk
CERTIFICATION
I hereby certify that the foregoing is a true and correct copy of a resolution presented to and adopted by
the City Council of Rosemount at a duly authorized meeting thereof, held on the l day of June, 2004,
as disclosed by the records of said City in my possession.
(SEAL)
Linda J. Jentink, Rosemount City Clerk
Motion by Second by
Voted in favor
Voted against
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