HomeMy WebLinkAbout00-90 RESOLUTION 00-90
A RESOLUTON DECLARING COSTS TO BE ASSESSED AND
ORDERING PREPARATION OF PROPOSED ASSESSMENTS FOR
OAK RIDGE CIRCLE, FLANDRAU CIRCLE, FULBRIGHT CIRCLE, INDIAN RIDGE CIRCLE,
EUCLID AVENUE, MAVES TRAIL, FORSYTHE ROAD, SHANNON TRAIL, PRIOR CIRCLE AND
SHANNON CIRCLE IMPROVEMENTS (CITY PROJECT #'/2-00)
Motion By: PETERSEN Second By: GUNDLACH
WHEREAS, a Contract has been let and costs have been determined for the improvement of Oak
Ridge Circle, Flandrau Circle, Fulbright Circle, Indian Ridge Circle, Euclid Avenue,
Mares Trail, Forsythe Road, Shannon Trail, Prior Circle and Shannon Circle Project 12-
00 and the contract price for such improvements is $953,818 and the expenses incurred
or to be incurred in the making of such improvements amount to $213,474, so that the
total cost of the improvements will be $1,167,292.00.
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 is to be paid by the City is hereby declared to be
$797,269.46, and the portion of the cost to be assessed against benefited property owners is
declared to be $370,022.54.
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 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 18TH DAY OF SEPTEMBER, 2000.
YES NO
Mader X Mader
Ericson X Ericson
Gundlach X Gundlach ~,~~,~
Petersen X Petersen
vacant Vacant
City Manfa~er~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