RES 2021-08 OT396-2021 Resolution State Aid Street Funds AdvanceCITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2021-08
REQUESTING MUNICIPAL STATE -AID
STREET FUNDS ADVANCEMENT
WHEREAS, The City of Otsego is continuing to request State Aid reimbursements for construction
and settlements for obtaining right-of-way for Municipal State Aid Street Projects in 2021 which
will require State Aid funds in excess of those available in its State Aid Construction Account; and
WHEREAS, the City is prepared to continue with the construction of said projects through the use
of an advance from the Municipal State Aid Street Fund to supplement the available funds in their
State Aid Construction Account; and
WHEREAS, the advance is based on the following determination of estimated expenditures; and
Otsego State Aid Construction
Account Balance as of 12/31/20 -$3,624,655
2021 Otsego Municipal Street State Aid
Construction Amount $ 713,726
2021 Otsego Request for Additional Advancement -$ 494,000
Total Otsego Requested Advancement Amount -$3,404,929
Max Otsego Allowed Advancement Amount (5 x $713,726) -$3,568,631
WHEREAS, repayment of the funds so advanced will be made in accordance with the provisions of
Minnesota Statures 162.144, Subd. 6 and Minnesota Rules, Chapter 8820.1500, Subp. 10b; and
WHEREAS, State Aid has determined the City of Otsego met the criteria to be advance funded
based on the project completion and the limited availability of funds in the Municipal State Aid
Street Fund.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO, MINNESOTA:
That the Commission of Transportation is hereby requested to approve this advance for
financing approved Municipal State Aid Street Project(s) of the City of Otsego in an
amount up to $3,404,929; and hereby authorize repayments from subsequent accruals to
the Municipal State Aid Street Construction Account of the City of Otsego from future year
allocations until fully repaid.
ADOPTED by the Otsego City Council this 8th day of February, 2021.
MOTION BY: Darkenwald
SECONDED BY: Goede
INFAVOR:Stockamp, Dahl, Darkenwald, Goede, and Moores
OPPOSED: none
CITY OF OTSEGO
Jessica L. Stockamp, Mayo
ATTEST:
�t
Audra zel, City Clerk