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A RESOLUTION OF THE CITY COUNCIL AUTHORIZING THE EXECUTION OF THE <br />GENERAL OBLIGATION BOND GRANT AGREEMENT <br />WITH THE STATE OF MINNESOTA <br />WHEREAS, pursuant to Minnesota State Statute Section 219.166, the City of Little Canada <br />supports the establishment of a Quiet Zone encompassing Woodlyn Avenue, South Owasso Boulevard, <br />Little Canada Road, Demont Avenue, County Road B2, and County road B within its boundaries; and <br />WHEREAS, the City was awarded funding in the amount of $1,250,000 through the State <br />Bonding Bill to improve the at grade crossings noted above to enable them to meet the <br />NOW, THEREFORE BE IT RESOLVED by the City of Little Canada as follows: <br />1. The City of Little Canada authorizes the execution of the General Obligation Bond Grant <br />Agreement with the State of Minnesota to enable the receipt of the awarded funding. <br />2. Per Minnesota Statute Chapter 412.211, the City of Little Canada has the legal authority to <br />enter in to said agreement the State Department of Transportation and Canada Pacific Railroad as <br />outlined in Section 5.04(c) of the agreement. <br />3. The City, as part of its 2015 budget, has committed up to $220,000 as its share of local funds <br />needed to fully fund the project as required by section 5.04(D) of the agreement. To further document <br />this commitment, two pages from the 2015 Budget are attached to show the receipt of grant funds plus <br />and additional $30,000 and the total expenditure estimated at that time to complete the project. <br />4. The City agrees to fund any maintenance requirements over the 20 -year bond period if the <br />Canadian Pacific Railroad does not fulfill its commitment to perfotiu maintenance (per the agreements <br />between the city and the railroad) as outlined in section 5.04(J) of the agreement. <br />5. The city's insurance meets the requirement as outline in section 6.01 of the agreement. <br />6. The city agrees to cover any costs that exceed the amount of funds provided by the state <br />(bond plus federal) necessary to complete the projects as required by section 5.04(p) of the agreement. <br />Adopted this day of August, 2015. <br />By: <br />By: <br />Joel R. Hanson, City Administrator <br />John T. ICeis, Mayor <br />2 <br />