HomeMy WebLinkAbout01-108 RESOLUTION 01-108
RESOLUTION DECLARING COSTS TO BE ASSESSED
AND ORDERING PREPARATION OF PROPOSED ASSESSMENTS
~, EVANSTON AVENUE, ST. PAUL AVENUE, JORDAN AVENUE, MINNESOTA STREET,
DAKOTA STREET, OAK STREET AND MEMORIAL TRAIL- CITY PROJECT 01-11
MOTION BY: ZIESKA SECOND BY: GUNDLACH
WHEREAS, a Contract has been let and costs have been determined for the improvement of Evanston
Avenue, St. Paul Avenue, Jordan Avenue, Minnesota Street, Dakota Street, Oak Street and
Memorial Trail, Project 01-11 and the contract price for such improvements is $1,568,000 and the
expenses incurred or to be incurred in the making of such improvements amount to $212,000 so
that the total cost of the improvements will be $1,780,000.00.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF PRIOR LAKE, MINNESOTA:
1. The portion of the cost of such improvements is to be paid by the City is hereby declared to be
$1,261,603, and the portion of the cost to be assessed against benefited property owners on a front
footage basis is declared to be $518,397.
2. Assessments shall be payable on an equal principal installment method extending over a period of
10 years for street improvements. The first installment shall be the annual principal plus interest
calculated from the public hearing date to the end of this year plus twelve months of the next year
and shall bear interest at the rate of a minimum of 8% per annum from the date of the adoption of
the assessment resolution.
3. The City Manager, with the assistance of the City Engineer shall forthwith calculate the proper
amount to be specially assessed for such improvements against every assessable lot, piece or
parcel of land within the distdct affected, without regard to cash valuation, as provided by law, and
he shall file a copy of such proposed assessment in his office for public inspection.
4. The City Manager shall upon the completion of such proposed assessment, notify the Council
thereof.
Passed and adopted this 17th day of September, 2001.
YES NO
Uader X Mader
Ericson X Ericson
Gundlach X Gundlach
Petersen X Petersen
Zieska X Zies~'/
{Seal} Frank Bo~YI~
1620~kL~)}g~r~e'~FA'~g.~5.1~,S~'r~g~'~,~0,8[~'(~)e(~.a 55372-1714 / Ph. (952) 447 4230 / Fax (952) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER