HomeMy WebLinkAbout15-153 Credit River Road Set Assessment O� P RIp�
4646 Dakota Street SE
�1NNESO""' Prior Lake, MN 55372
RESOLUTION 15-153
A RESOLUTION DECLARING COSTS TO BE ASSESSED, ORDERING PREPARATION OF
PROPOSED ASSESSMENT ROLL AND ESTABLISHING THE DATE OF THE ASSESSMENT HEARING
AND PUBLICATION THEREOF
FOR THE CREDIT RIVER ROAD IMPROVEMENT PROJECT#TRN15-000006
Motion By: McGuire Second By: Keeney
WHEREAS, Costs have been determined for the improvement of Credit River Road, Project#TRN 15-
000006, the City cost for the improvements are $3,109,422.54; and
WHEREAS, The City Manager notifies the City Council that such proposed assessment will be
completed and filed in the City Manager's office for public inspection.
NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE,
MINNESOTA as follows:
1. The recitals set forth above are incorporated herein.
2. The portion of the cost of such improvements to be paid by the City is hereby declared to be
$2,825,922.54, and the portion of the cost to be assessed against benefited property owners is declared
to be $283,500.
3. 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 4.44% per annum from the date of the adoption of the assessment resolution.
4. 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 shall file a copy of such
proposed assessment in the office of the City Manager for public inspection.
5. The City Manager shall upon the completion of such proposed assessment notify the City Council thereof.
6. A public hearing shall be held on the 121h day of October, 2015, in City Council Chambers at 7:00 P.M.
to pass upon such proposed assessment and at such time and place all persons owning property affected
by such improvement will be given the opportunity to be heard with reference to such assessment.
7. The City Manager is hereby directed to cause a notice of the public hearing on the proposed assessment
to be published once in the official newspaper of the City at least two weeks prior to the hearing, and the
City Manager shall also cause mailed notice to be given to the owner of each parcel described in the
assessment roll not less than two weeks prior to the hearing.
8. 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
payment, to the City Finance Director, except that no interest will be charged if the entire assessment is
paid within 30 days from the adoption of the assessment. The owner may, at any time thereafter, pay to
the City Finance Director the entire amount of the assessment remaining unpaid, with interest accrued to
December 31 of the year in which such payment is made. Such payment must be made before November
11 or interest will be charged through December 31 of the succeeding year.
PASSED AND ADOPTED THIS 141h DAY OF SEPTEMBER 2015.
VOTE Hedberg Keeney McGuire Morton Thompson
Aye o 0 0 ❑ ❑
Nay ❑ ❑ ❑ ❑ ❑
Abstain ❑ ❑ ❑ ❑ ❑
Absent ❑ ❑ ❑ ❑x ❑x A LI
Frank j- ,es, ity anager
2