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<br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />CITY OF ARDEN HILLS <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. 2020-011 <br /> <br />A RESOLUTION REQUESTING MUNICIPAL STATE AID STREET FUNDS <br />ADVANCE <br /> <br />WHEREAS, the City of Arden Hills is implementing Municipal State Aid Street Projects in <br />2017 through 2020 which will require State Aid funds in excess of those available in its State Aid <br />Construction Account; and <br /> <br />WHEREAS, the City of Arden Hills is prepared to deliver said projects through the use of an <br />advance from the Municipal State Aid Street Fund to supplement the available funds in their State Aid <br />Construction Account; and <br /> <br />WHEREAS, the advance is based on the following determination of estimated expenditures: <br /> <br /> Account Balance as of February 6, 2020 $178,339.68 <br /> Less estimated disbursements: <br /> Project #187-020-021 $ 28,200.00 <br /> Project #187-020-022 $ 28,200.00 <br /> Project #187-020-023 $ 1,413,000.00 <br /> Project #187-020-016 $ 4,186.00 <br /> Project #187-108-002 $ 26,027.00 <br /> Total Estimated Disbursements $ 1,499,613.00 <br /> Advance Amount (amount in excess of acct balance) $ 1,321,273.32 <br /> <br />WHEREAS, repayment of the funds so advanced will be made in accordance with the <br />provisions of Minnesota Statutes 162.14, Subd. 6 and Minnesota Rules, Chapter 8820.1500, Subp. 10b; <br />and <br /> <br />WHEREAS, the Municipality acknowledges advance funds are released on a first-come- <br />first-serve basis and this resolution does not guarantee the availability of funds. <br /> <br />