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Councilmember <br /> <br />introduced the following resolution and moved for its adoption: <br /> <br /> R SOLUT oN #0S-0I-XXX <br /> <br />RESOLUTION AUTHORIZING ~CAPAL STATE AID STREET FUNDS <br /> ADVICE <br /> <br /> WHEREAS, the City of Ramseyimplem~nted a Municipal State Aid Street Project in 2004 <br />which will require State Aid funds in excess of those available in its State Aid Construction <br />Account; and ' <br /> <br /> WHEREAS, said City has proceeded With the construction of project 199-109-02 anticipating <br />the use o fan advance frOm the MUnicipal State Aid Street Fund to supplement the available funds in <br />their State Aid Construction Account which is currently depleted; and <br /> <br /> WHEREAS, repayment of the funds s° advanced will be made in accordance with the <br />provisions of Minnesota Statutes 162.14, Sub& 6 and Minnesota Rules, Chapter 8820.1500, <br />Subp. 10b; and ~ <br /> <br /> WHEREAS, the City acknowledges advance funds are released on a first-come-first-serve <br />basis and this resolution does not guarantee the availability of funds. <br /> <br /> NOW, THEREFORE, BE IT RESOI3VED BY TItE CITY COUNCIL OF THE CITY <br />OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA: <br /> <br />1 ) That the Commissioner of Transportation be and is hereby requested to approve this advance <br /> for financing approved Municipal State:Aid Street Project(s) of the City of Ramsey in an <br /> amount up to $1,160,000. I hereby authorize repayments from subsequent accruals to the <br /> Municipal State Aid Street COnstruction ACcount of said City in accordance with the <br /> schedule herein indicated: <br /> <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 <br /> (maximum 5 year repayment). <br /> <br />The motion for adoption of the foregoing re. solUtion was duly seconded by Councilmember <br /> , and upon vote being taken thereon, the following voted in favor thereof: <br /> <br />and the following voted :against the same: <br /> <br />and the following abstained: <br /> <br />and the following were absent: <br /> <br />R SOLm' ON: #0S-01-XXX <br /> page 2 of 2 <br /> <br /> <br />