HomeMy WebLinkAbout96-11 - ADMIN Resolution - City Council - 1996/01/16i
RESOLUTION NO. 96-11
A RESOLUTION IMPLEMENTING MUNICIPAL STATE AID FUNDS
FOR MUNICIPAL STATE AID STREET PROJECTS IN 1996
WHEREAS, the City of St. Louis Park is planning on implementing Municipal State Aid Street
Projects in 1996 which will require State Aid funds in excess of those available in its State Aid
Construction Account; and
WHEREAS, said City is prepared to proceed with the construction of said project(s) through
the use of advance encumbrances from the general State Aid Construction Account to supplement
the available funds in their State Aid Construction Account; and
WHEREAS, repayment of the funds so advanced will be made in accordance with the
provisions of Minnesota Statutes 162.14, Subdivision 6 and Minnesota Rules, Chapter 8820.
NOW, THEREFORE, BE IT RESOLVED that the Commission of Transportation be and is
hereby requested to approve this advance for financing approved Municipal State Aid Street Projects
of the City of St. Louis Park in an amount up to $1 million in accordance with Minnesota Rules
8820.1500, Subparagraph 9, and to authorize repayments from the following year's accruals to the
Construction Account of the Municipal State Aid Street fund for said City.
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Attest:
Adopted by the St. Louis Park City Council January 16, 1996.
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Reviewed for administration: Approved as to form and execution:
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City Attorney