88-075 RES
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RESOLUTION 88 - 75
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
MAIN STREET, PROCTOR AVENUE & JACKSON AVENUE IMPROVEMENT OF 1988
WHEREAS, costs have been determined for the Main St., Proctor Ave.
& Jackson improvement consisting of a contract price of
$1,435,000.00 and expenses incurred or to be incurred by the City
in the making of the improvement in the amount of $401,800.00 for
a total cost of the improvement of $1,836.800.00.
NOW, THEREFORE, IT 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 $1,261,000..
2. The portion of the cost to be assessed against benefitted properties
pursuant to the Elk River City Assessment Policies shall be $575,000.00.
3. The assessments shall be payable in equal annual installments and
shall extend over a period of 5 or 10 years, the first of the
installments to be payable on or before the first Monday in January,
1989, with interest at the rate of 7.75% 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 pro-
posed 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 12th day of September, 1988.
&dl c ~A~J
Estelle E. Gunkel, Mayor
ATTEST:
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Patrick D. Klaers, City Administrator