HomeMy WebLinkAboutResolution No. 2016-113 Requesting MSA Street Fund Advance for Calendar Year 2017 A. ?
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RESOLUTION NO. 2016-113
REQUESTING AN ADVANCE FROM THE MUNICIPAL
STATE AID STREET FUND FOR CALENDAR YEAR 2017
FOR THE CITY OF EDINA, MINNESOTA
WHEREAS, the Municipality of City of Edina is planning to implement Municipal State Aid Street
Projects in 2017 which will require State Aid funds in excess of those available in its State Aid Construction
Account; and
WHEREAS, said Municipality is prepared to proceed with the construction of said projects through the
use of an advance from the Municipal State Aid Street Fund to supplement the available funds in their State Aid
Construction Account, and
WHEREAS, the advance is based on the following determination of estimated expenditures:
Account Balance as of date December 31, 2016 $000,000
2017 Estimated MSA Allocation $839,410
Estimated Account Balance January 2017 $839,410
Less estimated disbursements:
Encumbrance for 2016 Projects $200,000
Proiect# 120-170-001 (Parklawn Ave) $1,139,410
Total Estimated Disbursements $1,339,410
Advance Amount (amount in excess of acct balance) $500,000
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 Municipality acknowledges advance funds are released on a first-come-first-serve basis
and this resolution does not guarantee the availability of funds.
NOW, THEREFORE, BE IT RESOLVED: That the Commissioner of Transportation be and is hereby
requested to approve this advance for financing approved Municipal State Aid Street Projects of the Municipality
of City of Edina in an amount up to $500,000. 1 hereby authorize repayments from subsequent accruals to the
Municipal State Aid Street Construction Account of said Municipality from fu re year allocations until fully
repaid.
Dated: November 15, 2016
Attest:
Debra A. Mangen, City Clerk James B. Hovland, Mayor
ENGINEERING DEPARTMENT
7450 Metro Boulevard• Edina,Minnesota 55439
www.EdinaMN.gov.952-826-0371 . Fax 952-826-0392
Resolution No. 2016-113
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 15,
2016, and as recorded in the Minutes of said Regular Meeting.
WITNESS my hand and seal of said City this day of 12016.
City Clerk
August 2015