99-020 RESRESOLUTION 99 - 20
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION AMENDING RESOLUTION 99-4 REQUESTING
ADVANCE MUNICIPAL STATE AID FUNDING
WHEREAS,
the City of Elk River is planning on implementing Municipal
State Aid Street Projects in 1999 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
projects through the use of advance encumbrances from the
general State Aid Construction Account to supplement the
available funds in their State Aid Construction 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 Elk River
in an amount up to $669,690 in accordance with Minnesota Rules 8820.1500,
Subparagraph 10b, and to authorize repayments from the following year's
accruals to the Construction Account of the Municipal State Aid Street fund
for said City.
Passed and adopted by the City Council of the City of Elk River this 22nd day
of February, 1999.
ATTEST:
Sandra A. Peine, City Clerk'
- SteI~hanie A.