City Council Resolution 2019-62CITY OF MONTICELLO
WRIGHT COUNTY, MINNESOTA
RESOLUTION 2019-62
WHEREAS, the Municipality of Monticello is planning to implement Municipal State Aid Street Project(s) in 2019 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 7/31/19
Less estimated disbursements:
Project #222-020-003
Project #222-116-002
Bond Principle (if any) $
Project Finals (overruns -if any) $
Other $
Total Estimated Disbursements
Advance Amount (amount in excess of acct balance)
$ (1,858,120.50)
$ 179,649.00
$ 290,400.50
$ 470,049.50
$ 2,328,170.00
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 $2,328,170.00. 1 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 9t" day of September, 2019, as disclosed by the records of said
Municipality on file and of record in the office.
Municipality of Monticello
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Municipal Uerk