HomeMy WebLinkAboutResolution No. 2014-141 Advance MSA Fund CY2015 r
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RESOLUTION NO. 2014-141
REQUESTING AN ADVANCE FROM THE MUNICIPAL
STATE AID STREET FUND FOR CALENDAR YEAR 2015
FOR THE CITY OF EDINA, MINNESOTA
WHEREAS,the City is planning to implement Municipal State Aid Street Project for Road Segments 120-
142-010 (54th Street), 120-151-010 (Valley View Road), 120-171-020 (Minnesota Drive), 120-171-030
(Minnesota Drive), 120-171-040 (Minnesota Drive), 120-152-021 (Tracy Avenue), and 120-170-010(Parklawn
Avenue) in 2015 which will require State Aid funds in excess of those available in its State Aid Construction and
Maintenance Accounts; and
WHEREAS,the City is prepared to proceed with the construction of said projects through the use of an
advance from the Municipal State Aid Street Fund; and
WHEREAS, the advance is based on the following determination of estimated expenditures
Account Balance as of November 2014 $1,900,000
2015 Estimated MSA Allocation $1,450,000
Estimated Account Balance January 2015 $3,350,000
• Less estimated disbursements:
Project#120-142-003 (54th Street) $3,009,000
Project#120-151-016 (Valley View Rd) $1,540,000
Project#TBD (MN Dr. Mill & Overlay) $ 200,000
Project#TBD (Tracy Ave— Prelim) $ 200,000
Project#TBD (Parklawn Ave - Prelim) $ 100,000
Total Estimated Disbursements $5,049,000
Advance Amount (amount in excess of acct balance) $1,700,000
WHEREAS, repayment of the funds so advanced will be made in accordance with the provisions of
Minnesota Statutes 162.14, Subd. 6 and Minnesota Rules, Chapter 8820.1500, Subp. 10b; and
WHEREAS, the City acknowledges advance funds are released on a first-come-first-served basis and
this Resolution does not guarantee the availability of funds.
NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF EDINA,
MINNESOTA that the Commissioner of Transportation be and is hereby requested to approve this advance for
financing approved Municipal State Aid Street Projects of the City of Edina in an amount up to $1,700,000. 1
hereby authorize repayments from subsequent accruals to the Municipal State Aid Street Construction Account
from future year's allocations until fully repaid.
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ENGINEERING DEPARTMENT
7450 Metro Boulevard•Edina,Minnesota 55439
www.EdinaMN.gov•952-826-0371 • Fax 952-826-0392
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Dated: NovAmber 18, 2014
Attest:
Debra A. Mangen, City C erk Jame6 B. Hovland, Mayor
STATE OF MINNESOTA )
COUNTY OF HENNEPIN )SS
CITY OF EDINA )
CERTIFICATE OF CITY CLERK
I, the undersigned duly appointed and acting City Clerk for the City of Edina do hereby certify that the attached
and foregoing Resolution was duly adopted by the Edina City Council at its Regular Meeting of November 18,
2014, and as recorded in the Minutes of said Regular Meeting.
WITNESS my hand and seal of said City this day of 20_
City Clerk