HomeMy WebLinkAbout98-97RESOLUTION 98-97
RESOLUTION DECLARING COSTS TO BE ASSESSED AND ORDERING PREPARATION OF
PROPOSED ASSESSMENTS FOR PROJECTS
98-14 PLEASANT STREET, COLORADO STREET, WEST AVENUE AND BIRCH AVENUE,
98-15 PLEASANT STREET OVERLAY, AND
98-16 DULUTH AVENUE IMPROVEMENTS
MOTION BY: KEDROWSKI SECOND BY SCHENCK
WHEREAS,
a Contract has been let and costs have been determined for the improvement of Pleasant
Street, Colorado Street, Birch Avenue and West Avenue Improvements, Project 98-14;
Pleasant Street Overlay, Project 98-15; and Duluth Avenue Improvements, Project 98-16;
and the contract price for such improvements is $1,345,425.33 and the expenses incurred
or to be incurred in the making of such improvements amount to $403,626.67, so that the
total cost of the improvements will be $1,749,052.00.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF PRIOR LAKE,
MINNESOTA:
The portion of the cost of such improvements is to be paid by the City is hereby declared to
be $1,152,907.24, and the portion of the cost to be assessed against benefited property
owners is declared to be $596,144.76.
Assessments shall be payable on an equal principal installment method extending over a
period of 5 years for trunk acreage assessment, 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.
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.
The City Manager shall upon the completion of such proposed assessment, notify the
Council thereof.
1620~)~1~1~ Ave. S.E., Prior Lake, Minnesota 55372-1714 / Ph. (612) 447-4230 / Fax (612) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER
Passed and adopted this 17th day of August, 1998
YES
{Sesl}
Mader
Kedrowski
Petersen
Schenck
Wuellner
X Mader
_X Kedrowski
X Petersen
X Schenck
City',M~ager
City of Prior Lake
NO
RF_.S9898.DOC