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<br />RESOLUTION 07-_ <br /> <br />A RESOLUTION OF THE CITY OF ELK RIVER <br /> <br />A RESOLUTION REGARDING A MUNICIPAL STATE AID LOCAL <br />ADVANCE <br /> <br />WHEREAS, the City of Elk River has obtained the Commissioner's approval for the <br />following Municipal State Aid Project: <br /> <br />Project # 204-010-006, and <br /> <br />WHEREAS, said City is prepared to proceed with the planning of said project by <br />providing local funds to supplement the available funds in the Municipal/Municipal <br />Turnback Account, and <br /> <br />WHEREAS, the City is undertaking another significant MSAS project at the same time, <br />and it desires to repay this advance over a period of five years to allow enough available <br />MSA funds for the other project, and <br /> <br />WHEREAS, repayment of the funds so advanced by the Municipality is desired in <br />accordance with the provisions of Minnesota Statute ~162.14, Subd. 6, and Minnesota Rules <br />8820.1500, Subd. 10. <br /> <br />NOW, THEREFORE, BE IT RESOLVED that the Commissioner of Transportation is <br />hereby requested to approve this basis for financing said construction project <br />and to authorize repayments from subsequent accruals to said Account, in <br />the amounts as herein indicated. <br /> <br />$200,000 from 2008 Allotment <br />$200,000 from 2009 Allotment <br />$200,000 from 2010 Allotment <br />$200,000 from 2011 Allotment <br />$200,000 from 2012 Allotment <br /> <br />Passed and adopted this 5th day of March, 2007. <br /> <br />Stephanie Klinzing, Mayor <br /> <br />ATTEST: <br /> <br />Tina Allard, City Clerk <br /> <br />S:\EngineerlmprovProj\2007 Improvement Projects\ 1B 169 Study\Resolution MSA Local Advance.doc <br />