98-036 RESRESOLUTION 98 - 36
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
BUSINESS CENTER DRIVE STREET AND UTILITY IMPROVEMENT OF 1998
WHEREAS
costs have been determined for the Business Center Drive Street and Utility
improvement consisting of a contract price of $430,129.00 and expenses
incurred or to be incurred by the City in the making of the improvement in the
amount of $120,436.00 for a total cost of the improvement of $550,565.00.
NOW, THEREFORE, BE IT RESOLVED by the City Council for the City of Elk River, Minnesota:
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
$34,996.00.
The portion of the cost to be assessed against benefitted properties pursuant to the Elk
River City Assessment Policies shall be $515,569.00.
The assessments shall be payable in equal annual installments and shall extend over a
period of 10 years, the first of the installments to be payable on or
before the first Monday in January, 1999, with interest at the rate of 6.5 % 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 to 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.
Passed and adopted this 13th day of April, 1998.
ATTE,.~:
San~lra A. Thackeray, City Clerk
e'nry '. Mayor
/~ ~,.~' Duitsman,
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