CR 91-206 State Aid Reimbirsements
September 13, 1991
STATE AID
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REIMBURSEMENT
Council Report: 91 -206
FOR MAINSTREET
Proposed Action:
Staff recommends the following motion: Move to adopt
Resolution No. 91 -118, a resolution requesting the
Commissioner of Transportation to approve an advance
encumbrance for the Mainstreet Project.
Adoption of this motion will allow the City to obtain
$1,466,320.20 in State Aid monies this fall as preliminary
payment for the entire Mainstreet Project versus requesting
reimbursement each year for the next three years.
overview.
Recent legislation allows cities to request full preliminary
reimbursement at the, start of multi -year projects using up
to three subsequent accruals from our State Aid Construction
Allotments. This new legislation basically allows us to
obtain 95% of the money for our State Aid needs on this
project within the next few months versus only 40% under the
old legislation. The only requirement from the state is to
have City Councils adopt resolutions such as the attached
indicating their awareness and concurrence of the procedure.
Obtaining this large amount of
to collect interest on it and
provide the Finance Director
this project without having to
funding mechanism.
money up front will allow us
not the state. It will also
sufficient funds to pay for
use other funds as an interim
Analysis of Issues.
o How will this affect our State Aid Account?
This procedure will not affect our account any
differently than waiting to request the funds.
All reimbursement procedures will request the sai
amount of money, thereby having the same effect t
future projects.
supporting Information.
o Koppy memo - analysis of State Aid account
o Resolution No.91 -118
L e Gu a n, Public Works Director
•Lands aP � Archiitecture • ConstructiOn-Management'
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CITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 91 -118
RESOLUTION REQUESTING THE COMMISSIONER OF TRANSPORTATIOW TO APPROVE AN
ADVANCE ENCUMBRANCE FOR THE MAINSTREET UPGRADING PROJECT IN ACCORDANCE
WITH MINNESOTA STATUES 162.14, SUBDIVISION 6.
WHEREAS, The City of Hopkins has obtained the Commissioner's approval
of the plans for the following Municipal State Aid Street Project
S.A.P. NO. 132- 341 -06
Located on Mainstreet between 5th Avenue and Shady Oak Road
Consisting of new utilities, sidewalk, curb and gutter, street
lighting, pavements, traffic signals, and landscaping.
AND, WHEREAS, said City is prepared to proceed with the construction
of said project by providing local funds to supplement the
available funds in its Municipal State -Aid Street Account.
WHEREAS, repayment of the funds so advanced by the municipality is
desired in accordance with the provisions of Minnesota Statutes
162.14, Subdivision 6.
NOW THEREFORE, BE IT RESOLVED: I That the Commissioner of
Transportation be and is hereby requested to approve this basis
for financing and construction project and to authorize
repayments from the subsequent accruals to the Construction
Account of Municipal State -Aid Street Fund for said City within
the limitations provided by law and at the times and in the
amounts as herein indicated:
On or after Feb. i, 1992 - $384,590.00 from 1992 allotment
On or after Feb. 1, 1993 — $384,,590.00 from 1993 allotment
On or after Feb. 1, 1994 - $323,226.38 from 1994 allotment
CERTIFICATION
I, James A. Genellie, duly appointed and qualified Clerk in and for
the City of Hopkins, State of Minnesota, do hereby certify that the
above is a true and full copy of a resolution adopted by the City
Council assembled in a regular session on the day of, 1991.
Nelson W. Berg, Mayor
ATTEST:
James A. Genellie, City Clerk