96-046 - 03-19 Request Encumbrances State Aid Funds•
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Resolution 96-46
March 19, 1996
Member Russell introduced the following resolution and moved its adoption:
RESOLUTION REQUESTING ADVANCE
ENCUMBRANCES STATE AID FUNDS (CITY)
WHEREAS, the City of Golden Valley 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 projects
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 Commissioner of Transportation
be and is hereby requested to approve this advance for financing approved Municipal State
Aid Street Projects of the City of Golden Valley in an amount up to $884,000 in accordance
with Minnesota Rules 8820.1500, Subparagraph 9, and to authorize repayments from the
following years' accruals to the Construction Account of the Municipal State Aid Street fund
for said City.
ATTEST:
The motion for the adoption of the foregoing
and upon a vote being taken thereon, the
Johnson, LeSuer, Micks and Russell; and 1
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resolution was seconded by Member Russell
following voted in favor thereof: Anderson,
ie following voted against the same: none,
whereupon said resolution was declared duly passed and adopted, signed by the Mayor
and her signature attested by the City Clerk.