HomeMy WebLinkAbout00-64 RESOLUTION 00-64
;OLUTION DECLARING COSTS TO BE ASSESSED AND ORDERING
EPARATION OF PROPOSED ASSESSMENTS FOR PROJECT 14-00
LINDEN CIRCLE IMPROVEMENTS
Motion By: ERICSON Second By: PETERSEN
WHEREAS, bids have been received and costs have been determined for the improvement of
Linden Circle Project 14-00 and the contract price for such improvements is $73,888.75
and the expenses incurred or to be incurred in the making of such improvements
amount to $19,129.12, so that the total cost of the improvements will be $93,017.87.
NOW THEREFORE, be it resolved by the City Council of the City of Prior Lake that the following are
hereby adopted:
1. The portion of the cost of such improvements to be paid by the City is hereby declared to be
$10,125.00 to be drawn from the Trunk Reserve, and the portion of the cost to be assessed against
benefited property owners is declared to be $82,892.87.
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 district affected, without regard to cash valuation, as provide by law, and a
copy of such proposed assessment shall be filed at City Hall for public inspection.
4. The City Manager shall upon the completion of such proposed assessment, notify the Council
thereof.
PASSED AND ADOPTED THIS 7TH DAY OF AUGUST, 2000.
YES NO
Mader X Mader
Ericson × Ericson
Gundlach X Gundlach
Petersen X Petersen
vacant Vacant
{Seal}
City Man~it~/of Prior Lake
16200 Eagle Creek Ave. S.E., Prior Lake, Minnesota 55372-1714 / Ph. (612) 447-4230 / Fax (612) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER