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Construction Fund Balance ~.:.. .J=; That for the determination of the 1962 Municipal State Aid Street Needs and all future Needs, that the amount of the unencumbered construction fund balance as of June 30th of the current year, not including the current year construction apportionment, shall be deducted from the 25 year total Needs of each individual municipality. ~. ~ I.. That annually the Finance Office shall review the encumbrances of each municipality and delete from the const:<ruction fund,balance only those encumbrances that have been made for projects awarded t~e previous year. That by January 1, 1979, each municipality shall submit a 5 year construction program which has been approved by their city council. This program shall include sufficient ~~CjEct3 to utilize all Existing and Enticipated funds a~d sh2ll be updated periodically (not to exceed 3 years). Should a program not be submitted by January 1, 1979, twice the city's unencumbered construction fund balance shall be deducted from its needs prior to the 19BO apportion- ment, end if necessary, increase to 3 times the amount prior to the 1981 allotment and to 4, 5, 6, etc. times the amount until such time as a program is submitted or the needs are reduced to zera. k k, I . ! EJ , 'I I --.... .' k'; In 1983, each city will be reviewed to determine the progress of their five year program. F2ilure to i~plement the proposed program, or other acceptable projects would impose the same adjustment as for failure to submit a 5 year program. - -59- .;; E- I ~ ....... . -~~. i ~, 1'-'..;- -...- -.- ~ t To further encourage the use of these funds, those cities which have not used municipal State Aid funds for a ccnstruction project in the 5 years prior to January 1, 1978, would have the preceeding formula concerning implementation applied beginning prior to the 1960 apportionment. *