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CITY OF GEM LAKE RESOLUTION NO.2006-04 17 Untiaryr 2006 A RESOLUTION AUTHORIZING' FINAL PAYMENT TO BELAtR EXCAVATING FOR PUBLIC IMPROVEMENT PROJECT NO.2004-01 AND THE TRANSFER OF FUNDS FROM THE .GEM LAKE :SEWER INVESTMENT ACCOUNT TO SUPPORT PROJECT COMPLETION. WHEREAS, Bel Air Excavating has completed the work for which it contracted with the City of Gem Lake: to the satisfaction of SEI3, lnc.. as demonstrated in -the 29 November2QQ0`1etter from Dave Mitchell to the City acting as Gern Lake's City and Project Engineers.; and WHEREAS, the balance required to. complete paymeiits. for the project i§ $27,217.1-4 which agrees with. accounting: Previously approved with the.assessment for this-projeect; and WHEREAS,.capitai required*to complete payments-forthe project has primarily been.held in the Capital. Projects Fund established for.. the.prcject.which has a.citrrent balance of $7;7.87.42; and WHEREAS, it.is the recommendation ofthe..Q4 Administratorthat the Capital Projects FUhd*be kept otieri with finds.not to exceed $600.00 for an additional laeriod bfsixty (60) days to provide a vehicle to pay previously approved of unanticipated expenses; now, therefore, be it RESOLVED - that the City Council of the City. of Gem Lake does hereby authorize the transfer of nineteen -thousand four -hundred. twenty-niheand 72!100ths (S19,429.72) dollars from the Sewer Investment Fund to the Capital Projects Fund: and; be it FURTHER RESOLVED that the City Council of the City of Gem Take does. hereby authorize final payment In the amount of twenty-seven thousand two -hundred seventeen and fourteen one -hundredths ($27;2.17.1.4) dollars; and, be it FURTHER RESOLV9Q:that.the..City Councilofthe Citypf Gem Lake does.hereby Order the Capital No Fuiid closed on or before the last day. of March 2Q06 for a period not le&5:thari.tW9 (2) bank statement.periods and, be it FURTHER RES6LVEI?i.titat:the City Council of the City. of.Gem Like -does hereby:order the Capital Projects Fund re -opened with deposits from investment funds as necessary to further fund Capital Projects ordered .for 2006; and. be it FURTH Ek RES..OLVED. that the City Council ofthe City ofGem Lake does hereby.order all future administrative and miscellaneous operating expenseir. for Pubiic4ittprovern ent Project No.:2004-01 W be.:paid fi-om the Sewer Fund. The foregoing Resolution was offered -by Councilor Walsdn-and was supported by Councilor Bosak and was declared bdb red based upon the folio win vote: NAME E11d Q'i7' i?IFATSON RASM.USSEN : SC.HILLMIT :; . ROSAK VOTE Aye Ave Aye Aye. Rye ATTEST l.:Frederic C.: Magnuson, the. duly qualified City -Clerk of.ihe. City. of Gem Lake. County of Ramsey, State of Minnesota; do hereby certify that the foregoing Resolution: is a true and acct;rate repre,sentation:gf action taken by the City Council of the City of Geni Lake enrthe--date-first written. 01 OF 01 /Oi Frederic C. Magnuson, City Clerk.. Date m;ertifiieb �%� .cdite; r"fu6onl200\bo1090-04