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CITY OF CENTERVILLE <br /> Res.#15- <br /> A RESOLUTION AUTHORIZING ALLOCATION OF EXPENDITURES ASSOCIATED <br /> WITH THE CSAH21/CENTERVILLE ROAD RECONSTRUCTION PROJECT <br /> WHEREAS, the City Council of the City of Centerville authorizes funds to be expended as <br /> follows for the CSAH21/Centerville Road Reconstruction Project: <br /> $238,000 Fund 452—Road <br /> $242,000 General Fund <br /> $100,000 Water Fund (Interfund Loan) <br /> $100,000 Sewer Fund (Interfund Loan) <br /> $680,000 Est. Total <br /> WHEREAS, an interfund loan in the amount of$100,000/ea. from the Sewer and Water Funds <br /> on 13'h day of May, 2015 to provide interim financing for the above stated Project; and, <br /> WHEREAS, these funds have sufficient cash balances to provide these loans and will be paid <br /> back at an interest rate of 2.5%per annum over a period of five(5) years; and <br /> NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br /> CENTERVILLE, MINNESOTA that $680,000 should be expended accordingly of which <br /> $200,000 will be utilized from the Sewer and Water Funds to assist in satisfying the balance <br /> owed to Anoka County for the City's share of construction fees associated with the above stated <br /> project. <br /> Adopted by the Council this 13`h day of May,2015. <br /> Tom Wilharber, Mayor <br /> Attest: <br /> Teresa Bender, City Clerk <br /> 45 <br />