Agenda - Council - 04/24/2012 - Laserfiche WebLink

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Anoka County Contract No. 2012- JOINT POWERS AGREEMENT FOR FINANCING THE CONSTRUCTION OF OF A HIGHWAY INTERCHANGE AT THE INTERSECTION OF CSAH 83 AND US 10 IN THE CITY OF RAMSEY THIS AGREEMENT is made and entered into this day of 2012, by and between the County of Anoka, a political subdivision of the State of Minnesota, 2100 Third Avenue, Anoka, Minnesota 55303, hereinafter referred to as "County", and the City Ramsey, 7550 Sunwood Dr. NW, Ramsey, MN 55303, hereinafter referred to as the "City". WITNESSETH WHEREAS, the parties to this agreement agree it is in the best interest of the public to construct a highway interchange at the intersection of CSAH 83 (Armstrong Blvd.) and US Highway No. 10, in the City of Ramsey (" Interchange Project"); and WHEREAS, the parties to this agreement consider it mutually desirable to share the cost of construction of the Interchange Project as hereinafter provided; and WHEREAS, Minn. Stat. § 471.59 authorizes political subdivisions of the state to enter into joint powers agreements for the joint exercise of powers common to each. NOW, THEREFORE, IT IS MUTUALLY STIPULATED AND AGREED: I. PURPOSE The parties have joined together for the purpose of defining each party's financial obligation relating to the construction of the Interchange Project. It is estimated that the cost to construct the Interchange Project is $35,815,000.00, and that the possible sources of funds to pay the cost thereof is identified in the attached Exhibit A. II. METHOD The County and the City shall work diligently together and independently to secure the necessary funds from the sources identified in Exhibit A to construct the Interchange Project. If for any reason any of the funds identified in Exhibit A cannot be obtained, then the County and City agree to assume the responsibility to fund the shortfall by the City paying for one half of the shortfall and the County paying for the other half of the shortfall, provided that the County's maximum financial responsibility for funding the construction of the Interchange Project shall not exceed $13,000,000.00. If sufficient funds for the construction of the Interchange Project are 1