RES 05-027
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RESOLUTION 05-27
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
STREET RECONSTRUCTION IMPROVEMENT OF 2005
WHEREAS costs have been determined for the 2005 Street Reconstruction improvement
consisting of a contract price of $1,443,920, and expenses incurred or to be incurred
by the City in the making of the improvement in the amount of $548,690.00, for a
total cost of the improvement of $1,992,620.00.
NOW, THEREFORE, BE IT RESOLVED by the City Council of 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 benefited properties is
$1,506,620.00.
The portion of the cost to be assessed against benefited properties pursuant to the Elk River
City Assessment Policies shall be $486,000.00.
The assessments shall be payable in equal annual installments and shall extend over a period
of 7 to 10 years, the first of the installments to be payable on or before the first Monday in
January, 2006, with interest at the rate of 5.75% per annum from the date of the adoption of
the assessment resolution.
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.
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.
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Pa"ed and adopted this 21" day OfMar~, 0, ~
Steph me A. Klinzing, May
ATTEST:
(~I1i. ~~
J o{~ .. Schmidt, City Clerk
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S:\l':nb~necrlmprovProj\211()5 lmprO\Tment Projects\Pa\Tmcnt Rehab 2005\Reso!utions\Determ cost-order "sscssm rol!.doc