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RESOLUTION 98 - <br /> <br />A RESOLUTION OF THE CITY OF ELK RIVER, MINNESOTA <br /> <br />WHEREAS <br /> <br />the City of Elk River is planning on implementing Municipal State Aid Street <br />Project(s) in 1998 which will require State Aid funds in excess of those available <br />in its State Aid Construction Account; and <br /> <br />WHEREAS <br /> <br />said City is prepared to proceed with the construction of said project(s) through <br />the use of advance encumbrances from the general State Aid Construction <br />Account to supplement the available funds in their State Aid Construction <br />Account; and <br /> <br />WHEREAS <br /> <br />repayment of the funds so advanced will be made in accordance with the <br />provisions of Minnesota Statutes 162.14, Subdivision 6 and Minnesota Rules, <br />Chapter 8820. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River, Minnesota: <br /> <br />That the Commissioner of Transportation be and is hereby requested to approve this advance <br />for financing approved Municipal State Aid Street Projects of the City of Elk River in an amount <br />up to $500,000.00 in accordance with Minnesota Rules 8820.1500, Subparagraph 9, and to <br />authorize repayments from the following year's accruals the Construction Account of the <br />Municipal State Aid Street fund for said City. <br /> <br />I HEREBY CERTIFY that the above is a true and correct copy of a resolution presented to and <br />adopted by the City of Elk River, County of Sherbume, State of Minnesota, at a duly authorized <br />meeting thereof held in the City of Elk River, Minnesota on the 11 day of May, 1998, as <br />disclosed by the records of said City on file and of record in the office. <br /> <br />ATTEST: <br /> <br />Sandra A. Thackeray, City Clerk <br />City of Elk River <br /> <br />\\SPNWFS\VOL1 \DATA\PROJ~230000m\000-1110.may. Resolution.doc <br /> <br /> <br />