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CITY OF ST. ANTHONY <br />RESOLUTION 12-038 <br />A RESOLUTION REQUESTING AN ADVANCE FROM THE <br />MUNICIPAL STATE AID STREET FUND FOR CALENDAR YEAR 2012 <br />FOR THE CITY OF ST. ANTHONY VILLAGE, MINNESOTA <br />WHEREAS, the City of St. Anthony Village has completed the construction of Municipal State <br />Aid street projects which required State Aid funds in excess of funds available in the <br />City's State Aid Construction Account, and; <br />WHEREAS, the City of St. Anthony Village has completed the construction of said projects and <br />desires to pay future payments for public improvement bonds issued for the <br />construction of said projects through the use of an advance from the Municipal State <br />Aid Street Fund, and; <br />WHEREAS, repayment of the funds so advanced will be made in accordance with the provisions <br />of Minnesota Statutes 162.14, Subd. 6 and Minnesota Rules, Chapter 8820.1500, <br />Subp. l Ob, and; <br />WHEREAS, the City of St. Anthony Village acknowledges advance funds are released on a first- <br />come -first-served basis and this Resolution does not guarantee the availability of <br />funds. <br />NOW, THEREFORE BE IT RESOLVED, by the City Council of the City of St. Anthony that the <br />Commissioner of Transportation is hereby being requested to approve this advance <br />for financing of past approved Municipal State Aid street projects which have been <br />constructed in the City of St. Anthony Village and have been paid short in the <br />amount up to $1,023,980 or five times the City's annual construction allotment. The <br />City of St. Anthony Village authorizes repayments from subsequent accruals to the <br />Municipal State Aid Street Construction Account from future year's allocations until <br />fully repaid. <br />Adopted this 27°i day of March, 2012. <br />Mayor <br />ATTEST: <br />City Clerk <br />Reviewed for administration: <br />City Manager <br />1,:ICouncll A1eo1m02012103272011H2es MSAS Adrnnce.docx <br />13 <br />