91-034 RES
Passed and adopted by the City
16th day of May, 1991.
Council a/the. City ~iv.er...thiS
~u!-f(~~
James A. Tralle, Mayor
RESOLUTION 91 - 34
RESOLUTION FOR THE CITY OF ELK RIVER
e
A RESOLUTION DETERMINING ASSESSED COST OF IMPROVEMENT AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT ROLL IN
THE MATTER OF PROCTOR AVENUE IMPROVEMENT OF 1991
WHEREAS,
costs have been determined for the Proctor Avenue
improvement consisting of a contract price of $600,000 and
expenses incurred or to be incurred by the City in the
making of the improvement in the amount of $168,000 for a
total cost of the improvement of $768,000.
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 benefitted
properties is $543,000.
2. The portion of the cost to be assessed against
benefitted properties pursuant to the Elk River
City Assessment Policies shall be $225,000.
3.
The assessments shall be payable in equal, annual
installments included and coinciding with real estate
tax payments and shall extend over a period of 5
years. The first of the installments will be
included on your 1992 tax statement unless prepaid
with interest at the rate of 8% per annum starting
November 1, 1991.
e
4. The City Administrator, with the assistance of the
Project Engineer, shall forthwith calculate the
proper amount to be specifically 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.
e
ATTEST: '
i /
/ // /;1 -~ ..
_S.21~2}4,t:A:t+L_~/i(J.{.t:'{'/tu~~L~
Sandra A. Thackeray, City C~k