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Councilmember Cook introduced the following resolution and moved for its adoption: <br /> <br />RESOLUTION #05-01-025 <br /> <br />RESOLUTION AUTHORIZING MUNICAPAL STATE AID STREET FUNDS <br /> ADVANCE <br /> <br /> WHEREAS, the City of Ramsey implemented 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 ofproj ect 199-109-02 anticipating <br />the use of an 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 so advanced will be made in accordance with the <br />provisions of Minnesota Statutes 162.14, Subd: 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 RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA: <br /> <br />l) <br /> <br />That the Commissioner of Transportation be and is hereby requested to approve this advance <br />for financing approved Municipal State' Aid Street Proj ect(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 />X <br /> <br /> Repayment from entire future year allocations until fully repaid. <br />__Repayment in 5 equal annual installments <br /> Repayment from future yearallocations in mounts listed below until fully repaid <br /> (maximum 5 year repayment). <br /> <br />The motion for adoption of the foregoing resolution was duly seconded by Councilmember <br />Elvig, and upon vote being taken thereon, the following voted in favor thereof: <br /> <br />Mayor Gamec <br />Councilmember Cook <br />Councilmember Elvig <br />Councilmember Jeffrey <br />Councilmember Olson <br />Councilmember Pearson <br />Councilmember Strommen <br /> <br />RESOLUTION #05-01-025 <br /> Page 1 of 2 <br /> <br /> <br />