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TO: Mayor & Council <br />FROM: Finance Director <br />Public Works/Community Development Director <br />DATE: November 29, 1984 <br />RE: 1984 STREET MAINTENANCE PROJECT <br />The 1984 Street Maintenance Project has been completed. <br />The cost of the project was $110,222.28. <br />Midwest Asphalt <br />Chapin Publishing <br />New Brighton Hardware <br />Snyder Brothers <br />Ramsey County <br />$109,988.51 <br />132.30 <br />25.49 <br />10.98 <br />65.00 <br />5110,222.28 <br />The project is $28,278 under the originally estimated <br />cost of $138,500. The project was intended to be financed as <br />follows: <br />General Fund: <br />1984 Budgeted Amount $ 60,000.00 <br />Additional 1984 MSA <br />maintenance allotment 31,000.00 <br />Silver Lake Woods Construction <br />Fund (transfer to General Fund) 47,500.00 <br />5138,500.00 <br />The transfer from the Silver Lake Woods Construction <br />Fund to the General Fund has not been made yet. In order to <br />preserve the monies that were not used for the project for <br />future projects it is recommended that they be left in the <br />Silver Lake Woods Construction Fund and only $19,300, the <br />amount needed to complete financing of actual costs, be <br />transferred to the General Fund. The rationale for this is <br />that the City Attorney has previously written a legal opinion <br />which states that monies of the fund may only be used for <br />projects authorized by Chapter 26 of the City Code. As of <br />this date the only uses authorized for the monies of the <br />Silver Lake Woods Construction Fund have been the Street <br />Maintenance projects. Resolution No. 1841 authorizing this <br />transfer is attached for your consideration. <br />