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19 <br />CITY OF GEM LAKE <br />RESOLUTION NO.2006-04 <br />17 January 2006 <br />A RESOLUTION AUTHORIZING FINAL PAYMENT TO BELAIR <br />EXCAVATING FOR PUBLIC IMPROVEMENT PROJECT NO. 2004-01 <br />AND THE TRANSFER OF FUNDS FROM THE GEM LAKE SEWER <br />INVESTMENT ACCOUNT TO SUPPORT PROJECT COMPLETION. <br />WHEREAS, Bel Air Excavating has completed the work for which it contracted with the City of Gem Lake to the <br />satisfaction of SEH, Inc. as demonstrated in the 29 November 2006 letter from Dave Mitchell to the City acting as Gem <br />Lake's City and Project Engineers; and <br />WHEREAS, the balance required to complete payments for the project is $27,217.14 which agrees with accounting <br />previously approved with the assessment for this project; and <br />WHEREAS, capital required to complete payments for the project has primarily been held in the Capital Projects Fund <br />established for the project which has a current balance of $7,787.42; and <br />WHEREAS, it is the recommendation of the City Administrator that the Capital Projects Fund be kept open with funds <br />not to exceed $600.00 for an additional period of sixty (60) days to provide a vehicle to pay previously approved or <br />unanticipated expenses; now, therefore, be it <br />RESOLVED, that the City Council of the City of Gem Lake does hereby authorize the transfer of nineteen -thousand <br />four -hundred twenty-nine and 72/100ths ($19,429.72) dollars from the Sewer Investment Fund to the Capital Projects <br />Fund; and, be it <br />FURTHER RESOLVED that the City Council of the City of Gem Lake does hereby authorize final payment in the <br />amount of twenty-seven thousand two -hundred seventeen and fourteen one -hundredths ($27,217.14) dollars; and, be it <br />FURTHER RESOLVED that the City Council of the City of Gem Lake does hereby order the Capital Projects Fund <br />closed on or before the last day of March 2006 for a period not less than two (2) bank statement periods; and, be it <br />FURTHER RESOLVED that the City Council of the City of Gem Lake does hereby order the Capital Projects Fund <br />re -opened with deposits from investment funds as necessary to further fund Capital Projects ordered for 2006; and, be <br />it <br />FU RTH ER RESOLVED that the City Council of the City of Gem Lake does hereby order all future administrative and <br />miscellaneous operating expenses for Public Improvement Project No. 2004-01 to be paid from the Sewer Fund. <br />The foregoing Resolution was offered by Councilor Watson and was supported by Councilor Bosak and was <br />derinred ndnnted based upon the following vote: <br />NAME <br />EMEOTT <br />WATSON <br />RASMUSSEN <br />SCHILLING BOSAK <br />I <br />VOTE <br />Aye <br />Aye <br />Aye <br />Aye Aye <br />ATTEST <br />1, Frederic C. Magnuson, the duly qualified City Clerk of the City of Gem Lake, County of Ramsey, State of <br />Minnesota, do hereby certify that the foregoing Resolution is a true and accurate representation of action taken by the <br />City Council of the City of Gem Lake on the date first written. <br />-e , 4 &r W4 6 W 772006' <br />Frederic C. Magnuson, City Clerk Date <br />Certif ieb itopB <br />e-file: resolution\2006�io2006-04 <br />Page 7 of 7 <br />