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 $4,000,000.
Body
CITY PROPOSAL:
The city council finds as follows:
1) The municipality of Duluth implemented municipal state aid street projects in 2018, 2019 and 2020 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 and 2019 projects and is prepared to proceed with the 2020 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 1/15/2020
$883,625
Plus: 2020 estimated construction allocation
$2,073,831
Less estimated disbursements:
Project #118-171-006 (Superior St. Reconstruction)
$5,227,415
Project #118-060-012 (Skyline Parkway Walls)
$17,000
Project #118-134-017 (Ninth St./Eighth St.)
$515,000
Project #118-178-006 (Decker Road)
$500,000
Project #118-134-018 (Woodland/Kent Signals)
$500,000
Project #118-160-025 (CSAH 4/Arrowhead Rd. Signals)
$150,000
Project #118-109-020 (W. Superior St./Garfield Ave. Signal)
$50,000
Project #118-153-004 (24th Ave. E. Preservation)
$50,000
Project #118-191-002 (26th Ave. E. Preservation)
$50,000
Project #118-164-003 (E. Superior St. Reclamation)
$395,250
Project #118-XXX-XXX (to be assigned) (Lake Ave. Bridge)
$125,000
Total estimated disbursements
$7,634,665
Advance amount (amount in excess of account balance)
($4,677,209)
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 883...
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