HomeMy WebLinkAbout18-170 Franklin Trail Reconstruction Assessment Hearing
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 18-170
A RESOLUTION ADOPTING ASSESSMENTS FOR THE 2018 FRANKLIN TRAIL ROAD
IMPROVEMENT PROJECT #TRN18-000001
Motion By: Burkart Second By: Braid
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 assessments for the 2018 Franklin Trail
Road Improvement Project, City Project #TRN18-000001.
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 proposed assessment for the 2018 Franklin Trail Road Improvement Project, City Project #TRN18 -
000001, a copy of which is attached hereto and made part hereof, is hereby accepted and shall
constitute the special assessment against the lands named therein, and each tract of land therein
included is hereby found to be benefitted by the proposed improvement in the amount of the
assessment levied against it.
3. The portion of the cost of such improvements to be paid by the City is hereby declared to be $1,303,049,
and the portion of the cost to be assessed against benefited property owners is declared to be $378,273.
4. Assessments shall be payable on an equal principal installment method extending over a period o f 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 4.41% per annum from the date of the adoption of the assessment resolution.
5. 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 14 or interest will be charged through December 31 of the succeeding year.
6. The Finance Director shall forthwith transit 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 the same manner as other municipal taxes.
PASSED AND ADOPTED THIS 15th DAY OF OCTOBER 2018
2
VOTE Briggs McGuire Thompson Braid Burkart
Aye ☒ ☒ ☒ ☒ ☒
Nay ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
Absent ☐ ☐ ☐ ☐ ☐
______________________________
Frank Boyles, City Manager