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RESOLUTION 95-90
RESOLUTION ADOPTING ASSESSMENTS
FOR
RIDGEMONT AVENUE STREET IMPROVEMENTS
PROJECT # 95-01
MOTION BY:
ANDREN
SECONDED BY:
GREENFIELD
WHEREAS, pursuant to proper notice duly given as required by law, the Council has
met and heard and passed upon all objections to the proposed assessment
for the improvements of Project # 95-01.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PRIOR
LAKE, MINNESOTA:
1. Such proposed assessment, a copy of which is attached hereto and made part
hereof, is hereby accepting and shall constitute the special assessment
against the lands named therein, and each tract of land therein included is
hereby found to be benefited by the proposed improvement in the amount of
the assessment levied against it.
2. Such assessments shall be payable on an equal principal method extending
over a period of.5. years for trunk acreage, 10 years for paving and 20 years
for sanitary sewer and water. 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 K-percent per annum from the date adoption of this assessment
resolution. To the first installment shall be added 90 days of interest on the
entire assessment from the date of this resolution until December 31, 1996.
To each subsequent installment when due shall be added interest for one
year on all unpaid installments.
3. The owner of any property so assessed may, at any time prior to certification
of the assessment to the County Auditor, pay the whole of the assessment on
such property, with interest accrued to the date of the payment, except that
no interest will be charged if the entire assessment is paid within 30 days,
and the individual may at any time thereafter, pay to the City's Finance
Director the entire amount of the assessment remaining unpaid, excepting
16200 Eagle Creek Ave. S.E., Prior Lake, Minnesota 55372-1714 / Ph. (612) 447-4230 / Fax (612) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER
the installment portion appearing upon the current year's property tax
statement.
4. The City Manager shall forthwith transmit a certified duplicate of this
assessment to the County Auditor to be extended on the property tax lists of
Scott County. Such assessments shall be collected and paid to the City in
same manner as other municipal taxes.
5. The final project cost apportionment has been determined to be $265,946.10
of which $47,268.71 and $97,036.00 shall be paid from the City's Ad
Valorem Tax Levy and Trunk Reserve Fund, respectively, and $121,641.39
which includes $17,360 Trunk Acreage Charges, to be assessed to the
benefited property owners as per attached assessment roll.
Passed and adopted this 2nd day of October, 1995.
Andren
Greenfield
Kedrowski
Schenck
Scott
{Seal}
RE9505/G:/resolu
YES
NO