95-048 RES
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RESOLUTION 9S - 48
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
1995 OVERLAY IMPROVEMENT OF 1995
\\'HEREAS costs have been determined for the 1995 overlay improvement consisting of a
contract price of $214.600.00 and expenses incurred or to be incurred by the City
in the making of the improvement in the amount of $21,400.00 for a total cost of
tbe improvement of $236.000.00.
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 $0.
2.
The portion of the cost to be assessed against benefitted properties pursuant to the Elk
River City Assessment Policies shall be $236,000.00.
3. The assessments shall be payable in equal annual installments and shall extend over a
period of 5 years, the first of the installments to be payable on or before the first Monday
in January, 1996, with interest at the rate of 8.0% 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 to 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 24th day of July, 1995.
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Sandra Thackeray. City Clerk