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STATE AID STREET FUNDS ADVANCE RESOLUTION <br /> <br />WHEREAS, the Municipality of Little Canada is planning to implement Municipal State Aid Street Project(s) in <br />2016 which will require State Aid funds in excess of those available in its State Aid Construction Account, and <br /> <br /> WHEREAS, said municipality is prepared to proceed with the construction of said project(s) through the <br />use of an advance from the Municipal State Aid Street Fund to supplement the available funds in their State <br />Aid Construction Account, and <br /> <br /> WHEREAS, the advance is based on the following determination of estimated expenditures: <br /> <br /> Account Balance as of date 03/15/2016 $ 766,681.38 <br /> Less estimated disbursements: <br /> Project # 200-020-011 $ 331,862.60 <br /> Project #200-101-011 $ 815,045.88 <br /> Project #200-102-005 $ 833,427.62 <br /> Project #200-120-010 $ 135,623.92 <br /> Bond Principle (if any) $_________________ <br /> Project Finals (overruns-if any) $_________________ <br /> Other_________________ $_________________ <br /> Total Estimated Disbursements $ 2,116,180.36 <br /> Advance Amount (amount in excess of acct balance) $ 1,349,498.98 <br /> <br />WHEREAS, repayment of the funds so advanced will be made in accordance with the provisions of <br />Minnesota Statutes 162.14, Subd. 6 and Minnesota Rules, Chapter 8820.1500, Subp. 10b, and <br /> <br />WHEREAS, the Municipality acknowledges advance funds are released on a first-come-first-serve <br />basis and this resolution does not guarantee the availability of funds. <br /> <br />NOW, THEREFORE, Be It Resolved: That the Commissioner of Transportation be and is hereby <br />requested to approve this advance for financing approved Municipal State Aid Street Project(s) of the <br />Municipality of Little Canada in an amount up to $1,349,498.98. I hereby authorize repayments from <br />subsequent accruals to the Municipal State Aid Street Construction Account of said Municipality from <br />future year allocations until fully repaid. <br /> <br /> <br />I HEREBY CERTIFY that the above is a true and correct copy of a resolution presented to and <br />adopted by the Municipality of Little Canada, County of Ramsey, State of Minnesota, at a duly authorized <br />Municipal Council Meeting held in the Municipality of Little Canada, Minnesota on the 23rd day of March, <br />2016, as disclosed by the records of said Municipality on file and of record in the office. <br /> <br /> <br />Municipality of Little Canada <br /> ______________________________________ <br /> Municipal Clerk <br />