HomeMy WebLinkAboutCC RES 00-038 A RESOLUTION REQUESTING APPROVAL FOR THE USE OF LOCAL FUNDS TO FINANCE PROJECTS UNTIL MSAS FUNDS BECOME AVAILABLE Meeting Sheet
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Box: 31
Folder: RES 2000
Document: CC RES 00-038 A RESOLUTION REQUESTING APPROVAL
FOR THE USE OF LOCAL FUNDS TO FINANCE PROJECTS UNTIL WAS
FUNDS BECOME AVAILABLE
CITY OF ST. ANTHONY
• RESOLUTION 00-038
A RESOLUTION REQUESTING APPROVAL FOR THE USE OF
LOCAL FUNDS TO FINANCE PROJECTS UNTIL MSAS
FUNDS BECOME AVAILABLE
WHEREAS, the City of St. Anthony has obtained the Commissioner's approval of the plans for the
following Municipal State Aid Street Projects:
S.A.P. No. 161-102-03
Located on 29`h Avenue NE from Stinson Boulevard to County Road 88
Consisting of street and utility reconstruction and sidewalk, lighting, and landscaping
improvements
S.A.P. No. 161-104-06
Located on 33`d Avenue NE from Stinson Boulevard to Silver Lake Road
Consisting of street and utility improvements
WHEREAS, said City is prepared to proceed with the construction of these said projects by
providing local funds to supplement the available funds in its Municipal State Aid
Account; and
• WHEREAS, repayment of the funds so advanced by the municipality is desired in accordance with
the provisions of Minnesota Statutes 162.14, Subdivision 6.
NOW, THEREFORE, BE IT RESOLVED, that the Commissioner of Transportation be and is hereby
requested to approve this basic financing for said construction projects and to authorize and to
authorize repayments from the subsequent accruals to the Construction Account of Municipal State
Aid Street fund for said City within the limitations provided by law at the times and in the amounts as
herein indicated:
On or after February 1, 2001 - $183,000 from 2001Allotment
On or after February 1, 2002 - $113,000 from 2002 Allotment
On or after February 1, 2003 - $113,000 from 2003 Allotment
On or after February 1, 2004 - $113,000 from 2004 Allotment
On or after February 1, 2005 - $113,000 from 2005 Allotment
On or after February 1, 2006 - $ 38,100 from 2006 Allotment
•
Resolution 00-038
• Page 2
CERTIFICATION
I, n i e-, k✓o duly appointed and qualified City Clerk in and for the City of St.
Anthony, State of Minnesota, do hereby certify that the above is a true and full copy fo a resolution
duly adopted by the City of St. Anthony, Minnesota, at a regular meeting on the_!�J-d day of
2000.
Adopted this 1 day of , 2000.
ATTEST:
City Clerk
•
Reviewed by Administration:
City 4nager
0
• REQUEST TO RESERVE ADVANCE FUNDING
The City of St. Anthony requests that the amount of$500,000 be reserved from the Regular/Municipal/Urban
General Construction Account for the SAP(s) listed below based on the following determination of the estimated
expenditures for the calendar year 2000.
Current Account Balance as of 5/1/2000 $427,300
Less: Estimated disbursements for new projects
SAP#161-104-06 $574,400
SAP#161-102-03 $250,000
SAP#161-020-09 $236,000
SAP#161-110-02 40,000
Less: Estimated disbursements for project overruns
SAP#161-104-06 $ 28.000
Less: Other estimated disbursements
Bond principal $ N/A
Previous year advance repayments $ N/A
Other $ N/A
Total estimated disbursements $ 1,128,400
Amount in excess of account balance $ 701,100
Maximum advance allowable per guidelines $ 500,000
ADVANCE GUIDELINES
• MSAS Account- Municipalities with a total annual allotment of$500,000 or more are
limited to the previous year's allotment. Municipalities with a total annual allotment of less
than$500,000 are limited to three times the previous year's allotment or $500,000
whichever is less. In either case, the advance must be reduced by any scheduled bond
principal obligations ad/or advance encumbrance repayments.
The City has either incurred an obligation, or anticipates incurring an obligation within approximately 8 weeks.
These obligations are eligible for use of State Aid construction account funds. For construction projects, a
completed plan has been submitted for final State Aid approval. A City Council resolution authorizing this
advance funding is attached or has been previously submitted.
City Engineer Date
The aforementioned project is eligible for advanced funding from the MSAS General Construction
Account.
State Aid Division Date
MSAS Construction account funds in the amount of$ have been added to the City
current year's construction allotment.
• State Aid Finance Date