03-16No. 2003 - 16
RESOLUTION
WHEREAS, the City of Otsego is planning on implementing Municipal State
Aid Street Projects in 2003 which will require State Aid funds in excess of those
available in its State Aid Construction Account, and
WHEREAS, said City is prepared to proceed with the construction of said
project through the use of advance encumbrances from the general State Aid
Construction Account to supplement the available funds in the State Aid Construction
Account, and
WHEREAS, repayment of the funds so advanced will be made in accordance
with the provisions of Minnesota `Statutes 162.14, Subdivision 6 and Minnesota Rules,
Chapter 8820.
NOW, THEREFORE, IT IS HEREBY RESOLVED: That the Commissioner of
Transportation be and is hereby requested to approve this advance for financing
approved Municipal State Aid Street Projects of the City of Otsego in an amount up to
$750,000 in accordance with Minnesota Rules 8820.1500, Subparagraph 9, and to
authorize repayments from the following year's accruals to the Construction Account of
the Municipal State Aid Street fund for said City.
I HEREBY CERTIFY that the above is a true and correct copy of a Resolution
presented to and adopted by the City of Otsego, County of Wright, State of Minnesota,
at a duly authorized meeting thereof held in the City of Otsego, Minnesota on the 2 7 t
day of Jan , 2003, as disclosed by the records of said City on file and of record
in the office.
arry Fo er, Mayor
J d Hu4s ,City Clerk
City of Otsego
JMBRANCE — GENERAL STATE AID FUNDS (CITY)