Title
RESOLUTION AUTHORIZING A REQUEST TO MNDOT TO PROVIDE ADVANCE FUNDING AND AUTHORIZING PAYMENTS FROM SUBSEQUENT ACCRUALS TO THE CITY'S MUNICIPAL STATE AID CONSTRUCTION ACCOUNT FOR VARIOUS CITY PROJECTS IN THE AMOUNT OF $1,958,397.
Body
CITY PROPOSAL:
The city council finds as follows:
1) The municipality of Duluth implemented municipal state aid street projects in 2018 and 2019 which required state aid funds in excess of those available in its state aid construction account; and
2) Said municipality has proceeded with the construction of 2018 projects and is prepared to proceed with the 2019 projects with local and state aid funds and proposes to complete said projects through the use of an advance from the municipal state aid street fund to supplement the available funds in its state aid construction account; and
3) The advance is based upon the following determination of estimated expenditures:
Account balance as of 10/31/2018
$1,257,209
Plus: 2019 estimated construction allocation
$3,927,736
Less estimated disbursements:
Project #118-171-006 (Superior St. Reconstruction)
$5,700,000
Project #118-060-012 (Skyline Parkway Walls)
$58,000
Project #118-185-006 (Congdon Blvd.)
$80,000
Project #118-134-017 (9th St./8th St.)
$300,000
Project #118-178-006 (Decker Road)
$505,342
Project #118-134-018 (Woodland/8th St. Signals)
$500,000
Total estimated disbursements
$7,143,342
Advance amount (amount in excess of account balance)
($1,958,397)
4) 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 8830.1500, subp. 10b; and
5) The municipality acknowledges that advance funds are released on a first-come, first-serve basis, and that this resolution does not guarantee the availability of funds.
RESOLVED, that the commissioner of transportation be and is hereby requested to approve this advance for financing approved municipal state ...
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