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RESOLUTION NO. <br />15 - <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br />RESOLUTION REQUESTING AN ADVANCE FROM THE MUNICIPAL STATE AID <br />STREET FUND FOR CALENDAR YEAR 2015. <br />WHEREAS, the City of New Brighton is planning to implement Municipal State Aid Street <br />Projects in 2015 which will require State Aid funds in excess of those available in its State Aid <br />Construction Account, and; <br />WHEREAS, the City is prepared to proceed with the construction of said projects through the use <br />of an advance from the Municipal State Aid Street Fund to supplement the available funds in their <br />State Aid Construction Account, and; <br />WHEREAS, the advance is based on the following determination of estimated expenditures: <br />Account Balance as of date 07/06/2015 $99,590 <br />Existing Advance Available $1,000,000 <br />$1,099,590 <br />Less estimated disbursements: <br />Project # SAP 147-109-002 <br />Project # SAP 147-110-011 <br />Project # SAP 147-020-040 <br />Project # SAP 147-020-041 <br />Project # SAP 147-121-004 <br />Project # SAP 147-020-039 <br />Bond Principle (if any) <br />Other <br />$ 475,000 <br />$ 670,000 <br />$ 170,000 <br />$ 380,000 <br />$ 545,000 <br />$ 85,000 Highway 96 Bridge over 35W <br />Total Estimated Disbursements $ 2,325,000 <br />Available Balance $1,099,590 <br />Advance Request (amount in excess of acct allocation) $1,225,410 <br />SAP 147 -109 -0021st Avenue NW from 8th Street NW to 10th Street NW <br />SAP 147-110-011 8th Street NW from Old Highway 8 to I st Avenue NW <br />SAP 147 -020 -04010th Street NW from Old Highway 8 to West 400 feet to RR Tracks <br />SAP 147-020-041 Old Highway 8 from Bridge over 694 to Queens Gate <br />SAP 147 -121 -00410th Street NW from 10th Street NW to Lake Valentine Road <br />WHEREAS, repayment of the funds so advanced will be made in accordance with the provisions <br />of Minnesota Statutes 162.14, Subd. 6 and Minnesota Rules, Chapter 8820.1500, Subp. 10b, and; <br />WHEREAS, the City acknowledges advance funds are released on a first -come -first -serve basis <br />and this resolution does not guarantee the availability of funds. <br />NOW, THEREFORE, Be It Resolved: That the Commissioner of Transportation be and is hereby <br />requested to approve this advance for financing approved Municipal State Aid Street Projects of the <br />City of New Brighton in an amount up to $1,225,410. The City of New Brighton authorizes <br />repayments from subsequent accruals to the Municipal State Aid Street Construction Account from <br />entire future year's allocations until fully repaid. <br />