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RESOLUTION 93-92
RESOLUTION DECLAlUNG COST TO BE ASSESSED
AND ORDERING PREPARATION OF PROPOSED ASSESSMENT FOR
Project 93-11 Waterfront Passage Business OMce Park
Construction Improvements
MOTION BY:
WHITE
SECONDED BY:
KFDROWSKI
WHEREAS,
a contract has been let (costs have been detennined) for the improvements of Prqject 93-11 and the
contract (bid) price for such improvements is ~89SrOOO 00., and the expenses incurred or to be
incurred in the making of such improvement amount to ~73~88.63, so that the total cost of the
improvement will be ~1 168f588.63.
NOW, THEREFORE, BE IT RESOLVED by the Mayor and City Council of Prior Lake, Minnesota:
1. The portion of the cost of such improvement is to be paid by the City's Tnmk ReselVe Fund and
Sewer and Water Enterprise Fund hereby declared to be ~355aOOO.OO and the portion of the cost to
be assessed against benefited property owners is declared to to be ~813588.63.
2. Assessments shall be payable on an equal principal installment method extending over a period of
10 years. 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 per cent 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
amOlmt to be specially assessed for such improvement 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 ftle 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 1sl day of November, 1993.
YES
NO
Andren
Fitzgerald
Kedrowski
Scott
White
Andren
Fitzgerald
Kedrowski
Scott
.te
{ Seal}
ASS05A.WRT
4629 Dakota St. S.E., Prior Lake, Minnesota 55372 / Ph. (612) 447-4230 / Fax (612) 447-4245
AN EQUAL OPPORTUNITY EMPLDYER