City Council Resolution 2016-23RESOLUTION 2016 -023
RESOLUTION REQUESTING STATE OF MINNESOTA TO ADVANCE MUNICIPAL
STATE AID FUNDS FOR CITY OF MONTICELLO
WHEREAS, the Municipality of Monticello is planning to implement Municipal State Aid Street
Project(s) in 2016 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 date 3/31/16 $39504
Less estimated disbursements:
Project # 222 - 010 -005, 222 - 101 -008 $1,050,000
Project #222-113-002,222-119-001,222-120-001 $825,000
Total Estimated Disbursements $1,875,000
Advance Amount (amount in excess of acct balance) $1,479,306
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
Project(s) of the Municipality of Monticello in an amount up to $1,479,306. 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.
I HEREBY CERTIFY that the above is a true and correct copy of a resolution presented to
and adopted by the Municipality of Monticello, County of Wright, State of Minnesota, at a duly
authorized Municipal Council Meeting held in the Municipality of Monticello, Minnesota on the
251h day of April, 2016, as disclosed by the records of said Municipality on file and of record in
the office.
City of Monticello
Jerk