HomeMy WebLinkAbout26-066 - ADMIN Resolution - City Council - 2026/05/04
Resolution No. 26-066
Authorizing an advance of Municipal State Aid funds
Whereas, the Municipality of St. Louis Park is currently implementing Municipal State
Aid street projects in 2026, 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
project(s) 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 May 4, 2026 $0
Less estimated disbursements:
SAP 163-296-007 $1,500,000
SAP 163-010-040 $463,186
SP 163-276-041 $400,000
Total estimated disbursements $2,363,186
Advance amount (amount in excess of acct balance) $2,363,186
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 St. Louis Park in an amount up to $2,363,186. I hereby authorize
repayments from subsequent accruals to the Municipal State Aid Street Construction Account
of said Municipality from future year allocations until fully repaid.
Reviewed for administration: Adopted by the city council May 4, 2026:
Kim Keller, city manager Nadia Mohamed, mayor
Attest:
Melissa Kennedy, city clerk
Docusign Envelope ID: 84EDFEAC-CFBE-82C9-82F5-438AAB12E472