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Counci/member Kurak introduced the following resolution and moved for its adoption: <br /> <br />RESOLUTION #04-11-334 <br /> <br />RESOLUTION AUTHORIZING MUNICAPAL STATE AID STREET FUNDS ADVANCE <br /> <br /> W H E REAS, the City of Ramsey is planning to implement Municipal State Aid Street Proj ect(s) in 2004 which <br />will require State Aid fitnds in excess of those available in its State Aid Construction Account, and <br /> <br /> WHEREAS, said City is prepared to proceed with the construction of project 199-109-02 through the use of an <br />advance fi'om the Municipal State Aid Street Fund to supplement the available funds in their State Aid Construction <br />Account which is currently depleted, and <br /> <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 /> <br /> WHEREAS, the City acknowledges advance funds are released on a first-come-first-se~we basis and this <br />resolution does not guarantee the availability of funds. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, <br />ANOKA COUNTY, STATE OF MINNESOTA: <br /> <br />l) <br /> <br />X <br /> <br />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 /> <br />__Repayment fi;om entire future year allocations until fully repaid. Repayment iii 5 equal annual installments <br /> Repayment fi'om future year allocations in amounts listed below until fully repaid (maximum 5 year <br /> repayment). <br /> <br />The motion for adoption of the foregoing resOlution was duly seconded by Councilmember Cook, and npon <br />vote being taken thereon, the following voted in favor thereof: <br /> <br />Mayor Gamec <br />Councilmember Kurak <br />Councihnember Cook <br />Councilmember Elvig <br />Councilmember Pearson <br />Councilmember Strommen <br /> <br />and the following voted against the same: <br /> <br />IlO[lC <br /> <br /> <br />