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Mounds View's annual MSA construction allotment is $220,750. As you can see, by adding up the funds <br /> required in bold print, $3,248,000.00, the funds required the construction schedule in the upcoming years will <br /> cip <br /> greatly exceed the funds allotted. If the City wishes to pursue these projects, at some point in time, the City will <br /> have to utilize additional identified funds available for this purpose, or issue general obligation bonds f <br /> construction. The State of Minnesota does have programs available to utilize annual construction allotments fo <br /> the repayment of bonds. Pursuing this means, of financing projects would limit future construction projects only <br /> because the City's allotment would be used to repay the construction of MSA roads. This does not preclude the <br /> City from financing and moving forward with any reconstruction, it merely requires in- house financing. MSA <br /> funds would eventually repay the City for it's contribution. <br /> This may seem very confusing. So perhaps more plaining stated, at some point in time, whether it is on the <br /> Bronson Project or any other project in the future, the City will exceed it's MSA annual construction allotment <br /> and consequently be required to bond for financing future projects. <br /> Staff will attempt to provide a more understandable explaination at the work session. Steve Campbell will also <br /> be in attendance. <br /> Michael Ulrich, Director of Public Works <br /> III <br /> 0 <br />