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RESOLUTION 97-87
iJrllVNESO~~ RESOLUTION DECLARING COSTS TO BE ASSESSED
ORDERING PREPARATION OF PROPOSED ASSESSMENTS FOR PROJECTS 95-07 MUSHTOWN ROAD
IMPROVEMENTS, AND
97-17 PIKE LAKE TRAIL IMPROVEMENTS
MOTION BY: Kedrowski
SECOND BY Schenck
WHEREAS,
a Contract has been let and costs have been determined for the improvement of Mushtown Road,
Project 95-07, and Pike Lake Trail, Project 97-17 and the contract price for such improvements is
$714,170.65 and the expenses incurred or to be incurred in the making of such improvements
amount to $194,180081, so that the total cost of the improvements will be $908,351.46.
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
$452,500.81, and the portion of the cost to be assessed against benefited property owners is
declared to be $455,850.650
2. Assessments shall be payable on an equal principal installment method extending over a period of
10 years for street and storm sewer improvements, and 20 years for sanitary sewer and watermain
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.
30 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 district 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
thereofo
Passed and adopted this 6th day of October, 1997.
Andren
Kedrowski
Mader
Robbins
Schenck
YES
_x_
_x_
_x_
_x_
NO
{Seal}
Andren
Kedrowski
Mader .~
Robbins
y
SC~
162~gfu~ Creek Aveo S.E., Prior Lake, Minnesota 55372-1714 / Ph. (612) 447-4230 / Fax (612) 447-4245
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