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C.'47 <br />Councilmember introduced the following resolution and moved for its adoption: <br />RESOLUTION #04-II-XXX <br />RESOULUTION AUTHORIZING MUNICAPAL STATE AID STREET FUNDS ADVANCE <br />WHEREAS, the City of Ramsey is planning to implement Municipal State Aid Street Project(s) in 2004 which <br />will require State Aid funds in excess of those available in its State Aid Construction Account, and <br />WHEREAS, said City is prepared to proceed with the construction ofproject 199-109-02 through the use of an <br />advance from the Municipal State Aid Street Fund to supplement the available funds in their State Aid Construction <br />Account which is currently depleted, and <br />WHEREAS, repayment of the funds so advanced will be made in accordance with the provisions of <br />Minnesota Statutes 162.14, Subd. 6 and Minnesota Rules, Chapter 8820.1500, Subp. 1 Ob, and <br />WHEREAS, the City acknowledges advance funds are released on a first -come -first -serve basis and this <br />resolution does not guarantee the availability of funds. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, <br />ANOKA COUNTY, STATE OF MINNESOTA: <br />1) That the Commissioner of Transportation be and is hereby requested to approve this advance for financing <br />approved Municipal State Aid Street Project(s) of the City of Ramsey in an amount up to $1,165,600. I <br />hereby authorize repayments from subsequent accruals to the Municipal State Aid Street Construction <br />Account of said City in accordance with the schedule herein indicated: <br />_Repayment from entire future year allocations until fully repaid. <br />X Repayment in 5 equal annual installments <br />_Repayment from future year allocations in amounts listed below until fully repaid (maximum 5 year <br />repayment). <br />The motion for adoption of the foregoing resolution was duly seconded by Councilmember , and upon <br />vote being taken thereon, the following voted in favor thereof: <br />and the following voted against the same: <br />and the following abstained: <br />and the following were absent: <br />Whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this 9th day <br />of November, 2004. <br />Mayor <br />ATTEST: <br />City Clerk <br />RESOLUTION #04-11-XXX <br />Page 1 of 1 <br />