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Funding for roadway paving and drainage improvements is proposed to primarily be through <br />street reconstruction bonds. For option 3, and a separate funding source will need to be <br />determined for the new curb and gutter. The City’s utility operating fund will fund the sanitary <br />sewer rehabilitation within the LaMotte neighborhood. There are no assessments proposed for <br />roadway and drainage improvements. The City will also pursue grant funding opportunities. <br /> <br />To use street reconstruction bonds, the City will need to prepare and approve a 5 Year Street <br />Reconstruction Plan. Under state law Street Reconstruction Bonds can be issued, without <br />election, provided the following requirements are met: <br /> <br />1. The City must prepare a 5-year street reconstruction plan. <br />2. The City must hold a public hearing prior to consideration of the plan. <br />3. The City Council must approve the plan by unanimous vote. <br />4. A 30-day period must elapse during which time a petition may be submitted <br />requesting an election. The petition must be signed by voters equal to 5% of the <br />votes cast in the last municipal general election. <br />5. If no petition is received the City Council may issue Street Reconstruction Bonds <br />for the proposed improvements. <br />6. If a petition is received, then the City Council may only issue Street Reconstruction <br />Bonds after approval by the voters. <br /> <br />A tentative schedule outlining the procedural steps is attached to this report. The 5 Year Street <br />Reconstruction Plan is being prepared and will be presented to Council on June 12, 2017. <br /> <br />With the roadway paving project, the City may be petitioned to, or choose to, extend municipal <br />utilities. Municipal utility extension funding would be through special assessments, connection <br />fees, trunk utility funds or a combination thereof, and would be coordinated with the street <br />reconstruction. <br /> <br />RECOMMENDATION <br /> <br />Staff is recommending approval of Resolution No. 17-42 Accepting Feasibility Report for the <br />West Shadow Lake and LaMotte Neighborhood Street Reconstruction project. <br /> <br />ATTACHMENTS <br /> <br />1. Resolution No. 17-42 <br />2. West Shadow Lake and LaMotte Neighborhood Street Reconstruction Feasibility <br />Report <br />3. Tentative Street Reconstruction Plan process/schedule <br /> <br /> <br />