87-057 RES
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RESOLUTION 87- 57
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
THE DEERFIELD 3RD ADDITION IMPROVEMENT OF 1986
WHEREAS, costs have been determined for the Deerfield 3rd Addition
improvement consisting of a contract price of $756,900.00 and
expenses incurred or to be incurred by the City in the making of
the improvement in the amount of $287,850.00 for a total cost of
the improvement of $1,044,750.00.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of El k 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
$1,044,750.00.
.
3. The assessments shall be payable in equal annual installments and shall
extend over a period of 15 years, the first of the installments to be
payable on or before the first Monday in January, 1989, with interest
at the rate of9.25%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 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
is 5th day of October, 1987. ,
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Este e . Gunkel, Mayor
ATTEST:
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