HomeMy WebLinkAbout96-33RESOLUTION 96-33
RESOLUTION ADOPTING ASSESSMENTS
FOR
NORTHWOOD ROAD STREET IMPROVEMENTS
PROJECT # 94-02
MOTION BY: Kedrowski
SECONDED BY: Greenfield
WHEREAS,
pursuant to proper notice duly given as required by law, the Council has met and
heard and passed upon all objections to the proposed assessment for the
improvements of Project # 94-02.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE,
MINNESOTA:
Such proposed assessment, a copy of which is attached hereto and made part
hereof, is hereby accepting and shall constitute the special assessment
against the lands named therein, and each tract of land therein included is
hereby found to be benefited by the proposed improvement in the amount of
the assessment levied against it.
Such assessments shall be payable on an equal principal method extending
over a period of 10 years for paving. 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 8percent per annum from the date adoption of this assessment
resolution. To the first installment shall be added 239 days of interest on the
entire assessment from the date of this resolution until December 31, 1997.
To each subsequent installment when due shall be added interest for one
year on all unpaid installments.
The owner of any property so assessed may, at any time prior to certification
of the assessment to the County Auditor, pay the whole of the assessment on
such property, with interest accrued to the date of the payment, except that
no interest will be charged if the entire assessment is paid within 30 days,
and the individual may at any time thereafter, pay to the City's Finance
Director the entire amount of the assessment remaining unpaid, excepting
the installment portion appearing upon the current year's property tax
statement.
16200 Eagle Creek Ave. S.E., Prior Lake, Minnesota 55372-1714 / Ph. (612) 447-4230 / Fax (612) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER
The City Manager shall forthwith transmit a certified duplicate of this
assessment to the County Auditor to be extended on the property tax lists of
Scott County. Such assessments shall be collected and paid to the City in
same manner as other municipal taxes.
The final project cost apportionment has been determined to be
$1,257,500.00 of which $700,000.00 and $163,148.95 and $35,943.49 shall
be paid from Municipal State Aid, Street Collector Fund, City's Trunk
Reserve Fund, respectively, and $358,407.56 to be assessed to the benefited
property owners as per attached assessment roll. In the event that project
costs change or the amount available for Municipal State Aid Funds is less
than $700,000, the difference shall be paid from the Street Collector Fund.
Passed and adopted this 6th day of May, 1996.
Andren
Greenfield
Kedrowski
Mader
Schenck
YES NO
Andren
Greenfield
Kedrowski
Mader
S¢~
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{Seal}
RES9633.DOC