92-127
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RESOLUTION NO. 127 -92
A RESOLUTION ESTABLISHING A MUNICIPAL
STATE AID CONSTRUCTION FUND
WHEREAS, the City of Shorewood has notified the Commission of
Transportation that all maintenance allotments of the City's
Municipal state Aid (MSA) program funds shall be calculated at
twenty-five percent of the total annual program allotment; and
WHEREAS, the City utilizes five percent of said funds for
general program maintenance purposes; and
WHEREAS, the City Council wishes to establish an MSA
Construction Fund from which funds may be transferred to create
specific MSA construction fund accounts.
NOW, THEREFORE BE IT RESOLVED by the Shorewood City Council
that an MSA Construction Fund is hereby created into which twenty-
five percent of the City's MSA annual allocation shall be
deposited.
BE IT FURTHER RESOLVED that all monies deposited in said fund
shall be used on MSA designated streets only: five percent shall
be allocated to the General Fund for program maintenances purposes;
twenty percent shall be reserved for transfer to the proper MSA
construction fund upon the initiation of each specific project.
PASSED AND ADOPTED by the City Council of the City of
Shorewood this 14th day of December 1992.
ATTEST:
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