2024-034 Resolution for Municipal State Aid Streets Funds Advance CITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION 2024-034
RESOLUTION FOR MUNICIPAL STATE AID STREETS FUNDS ADVANCE
WHEREAS, the Municipality of Hopkins has implemented a Municipal State Aid Street
Project in 2015 which required State Aid funds in excess of those available in its State
Aid Construction Account, and
WHEREAS, said municipality intends to close the construction funding of said project(s)
through the use of an advance from the Municipal State Aid Street Fund to supplement
the available funds in their State Aid Construction Account, and
WHEREAS, the advance is based on the following determination of estimated
expenditures:
Account Balance as of date 02/13/2024 $828,429.29
Less estimated disbursements:
Project #132-030-003 $ 2,797,888.42
Total Estimated Disbursements $2,797,888.42
Advance Amount (amount in excess of acct balance) $1,969,459.13
WHEREAS, repayment of the funds so advanced will be made in accordance with the
provisions of Minnesota Statutes 162.14, Subd. 6 and Minnesota Rules, Chapter
8820.1500, Subp. 10b, and
WHEREAS, the Municipality acknowledges advance funds are released on a first-
come-first-serve basis and this resolution does not guarantee the availability of funds.
NOW, THEREFORE, Be It Resolved: That the Commissioner of Transportation be and
is hereby requested to approve this advance for financing approved Municipal State Aid
Street Project(s) of the Municipality of Hopkins in an amount up to $1,803,270.66. I
hereby authorize repayments from subsequent accruals to the Municipal State Aid
Street Construction Account of said Municipality from future year allocations until fully
repaid.
I
HEREBY CERTIFY that the above is a true and correct copy of a resolution presented
to and adopted by the Municipality of Hopkins, County of Hennepin, State of Minnesota,
at a duly authorized Municipal Council Meeting held in the Municipality of Hopkins,
Minnesota on the 16th day of April, 2024 as disclosed by the records of said Municipality
on file and of record in the office.
By: AM
riiir: 'Mayor
ATTEST:
Amy Domeier, City Clerk