HomeMy WebLinkAbout25-042 Adopting the Assessment Roll For the 2025 Pavement Management Project
4646 Dakota Street SE Prior Lake, MN 55372
RESOLUTION 25-042 A RESOLUTION ADOPTING THE ASSESSMENT ROLL FOR THE 2025 PAVEMENT MANAGEMENT PROJECT (2025-01) Motion By: Churchill Second By: Lake
WHEREAS, pursuant to proper notice duly given as required by law, the City Council has met, heard and passed upon all objections to the proposed assessments for the 2025 Street Improvement Project (2025-01). 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 2025 Pavement Management Project (2025-01), 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
$3,118,556.18 and the portion of the cost to be assessed against benefited property owners is declared to be $358,037.78
4. Assessments shall be payable on an equal principal installment method extending over a
period of 5 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 5.7% 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 by November 3, 2025. 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 31st of the year in which such payment is made. Such payment must be made before November 3rd or interest will be charged through December 31st of the succeeding year.
6. The Finance Director shall send a certified duplicate of the 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.
2
Passed and adopted by the Prior Lake City Council this 25th day of March 2025. VOTE Briggs Braid Churchill Lake Hellier
Aye ☒ ☐ ☒ ☒ ☒
Nay ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
Absent ☐ ☒ ☐ ☐ ☐
______________________________ Jason Wedel, City Manager