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RESOLUTION 99-88
RESOLUTION DECLARING COSTS TO BE ASSESSED AND ORDERING
PREPARATION OF PROPOSED ASSESSMENT ROLL FOR PROJECT
99-11 CANDY COVEILAKESIDE MANOR IMPROVEMENTS
MOTION BY: Schenck
SECOND BY: Kedrowski
WHEREAS, bids have been received and costs have been determined for the improvement of
Candy Cove/Lakeside Manor Improvements, Project 99-11, and the contract price for
such improvements is $696,739.63 and the expenses incurred or to be incurred in the
making of such improvements amount to $176,256.85 so that the total cost of the
improvements will be $872,996.48
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
$567,484.61 to be drawn from the Trunk Reserve and Tax Levy, and the portion of the cost to be
assessed against benefited property owners is declared to be $305,511.87.
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 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 7th day of September, 1999.
Frank Bo
City Ma
YES
X
X
X
X
X
NO
Mader
Kedrowski
Petersen
Schenck
Wuellner
{Seal}
16200 Eagle Creek Ave. S.E., Prior Lake, Minnesota 55372-1714 1 Ph. (612) 447-4230 / Fax (612) 447-4245
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