97-011 RESRESOLUTION 97 - 11
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
ORONO LAKE 3RD ADDITION IMPROVEMENT OF 1997
WHEREAS
costs have been determined for the Orono Lake 3rd Addition improvement
consisting of a contract price of $282,200.85 and expenses incurred or to be
incurred by the City in the making of the improvement in the amount of
$164,021.84 for a total cost of the improvement of $446,222.69.
NOW, THEREFORE, BE IT RESOLVED by the City Council for the City of Elk River,
Minnesota:
1. Based upon the City Assessment Policies, it is determined that the portion of this
improvement to be paid by the City and not assessed to benefitted properties is $61,250.00.
2. The portion of the cost to be assessed against benefitted properties pursuant to the Elk River
City Assessment Policies shall be $385,000.00.
The assess~nents shall be payable in equal annual installments included and coinciding with
real estate tax payments and shall extend over a period of 10 or 15 years. The first of the
installments will be included on your 1998 tax statement unless prepaid with interest at the
rate of 8 % per annum starting December 1, 1997.
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 to the City Administrator's office a copy of the proposed assessment roll for public
inspection.
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 27th day of January, 1997.