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• <br />SALT 512(4/04) <br />MUNICIPAL <br />STATE AID STREET FUNDS ADVANCE RESOLUTION <br />WHEREAS, the Municipality of Lino Lakes is planning to implement Municipal State Aid Street Project(s) in 2004 which <br />will require State Aid funds in excess of those available in its State Aid Construction Account, and <br />WHEREAS, said municipality is prepared to proceed with the construction of said project(s) through the use of an advance <br />from the Municipal State Aid Street Fund to supplement the available funds in their State Aid Construction Account, and <br />WHEREAS, the advance is based on the following determination of estimated expenditures: <br />Account Balance as of date May 3, 2004 $1,372,774.26 <br />Less estimated disbursements: <br />Project # 210- 102 -01 $958,001.73 <br />Project # 210 - 116 -02 $62,054.60 <br />Project # (Holly Drive) $1,689,000.00 <br />Project # $ <br />Bond Principle (if any) $ <br />Project Finals (overruns -if any) $ <br />Other $ <br />Total Estimated Disbursements $2,709,056.33 <br />Advance Amount (amount in excess of acct balance) $1,336,282.07 <br />WHEREAS, repayment of the funds so advanced will be made in accordance with the provisions of Minnesota Statutes <br />162.14, Subd. 6 and Minnesota Rules, Chapter 8820.1500, Subp. 10b, and <br />WHEREAS, the Municipality acknowledges advance funds are released on a first- come -first -serve basis and this <br />resolution does not guarantee the availability of funds. <br />NOW, THEREFORE, Be It Resolved: That the Commissioner of Transportation be and is hereby requested to approve <br />this advance for financing approved Municipal State Aid Street Project(s) of the Municipality of Lino Lakes in an amount up <br />to $1,336,282.07. I hereby authorize repayments from subsequent accruals to the Municipal State Aid Street Construction <br />Account of said Municipality in accordance with the schedule herein indicated: (initial one) <br />Repayment from entire future year allocations until fully repaid. <br />Repayment in equal annual installments <br />Repayment from future year allocations in amounts listed below until fully repaid (maximum 5 year repayment). <br />$ CY $ CY $ CY <br />$ CY $ CY <br />I HEREBY CERTIFY that the above is a true and correct copy of a resolution presented to and adopted by the <br />Municipality of Lino Lakes, County of Anoka, State of Minnesota, at a duly authorized Municipal Council Meeting held in <br />the Municipality of Lino Lakes, Minnesota on the day of , 20 , as disclosed by the records of said <br />Municipality on file and of record in the office. <br />Municipality of <br />-116D- <br />Municipal Clerk <br />