RES 10-24RESOLUTION 10~ 24
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION DETERMINING ASSESSED COST OF
IMPROVEMENT AND ORDERING PREPARATION OF
PROPOSED ASSESSMENT ROLL IN THE MATTER OF
2010 MAIN STREET PAVEMENT REHABILITATION
WHEREAS, costs have been determined for the 2010 Main Street Pavement Rehabilitation improvement
consisting of a contract price of $443,874.70, and expenses incurred or to be incurred by the
City in the making of the improvement in the amount of $62,142.30, for a total of the
improvement of $506,017.
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NOW, THEREFORE, BE IT RESOLVED by the CitS~ Council of the City of Elk River, Minnesota:
1. Based upon the CitS- Assessment Policies, it is determined that the portion of this improvement to be
paid by the City and not assessed to benefited properties is X293,517.
2. The portion of the cost to be assessed against benefited properties pursuant to the Elk River CitS~
Assessment Policies shall be 42% of the project which amounts to $212,500.
3. The assessments shall be payable in equal annual installments and shall extend over a period of five
years, the first of the installments to be payable on or before the first Monday in January, 2011, with
interest at the rate of 3.5% per annum from the date of the adoption of the assessment resolution.
4. The City Administrator with the assistance of the Project Engineer shall forthwith calculate the
proper amount to be specially assessed for such improvement against every assessable lot, piece, or
parcel of land, without regard to cash valuation, as provided by law, and shall have available at the
City Administrator's office a copy of the proposed assessment roll for public inspection.
5. Upon completion of the proposed assessment roll, the City Administrator shall notify the Council
and schedule a public hearing upon the proposed assessment, causing notice of the hearing by
publication and mail to be made at least two weeks prior to the hearing.
Passed and adopted this 7~ day of June 2010.
ATTEST:
~/.^ry
Tina Allard, City Clerk
- , d~ ..
Stepha 'e A. I~linzing, Mayo
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