98-107 RESRESOLUTION 98 -1 ~ 7
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION DETERMINING ASSESSED COST OF
IMPROVEMENT AND ORDERING PREPARATION OF
PROPOSED ASSESSMENT ROLL IN THE MA"II'ER OF
EAST ELK RIVER PHASE I IMPROVEMENT OF 1998
WHEREAS
costs have been determined for the East Elk River Phase I improvement
consisting of a contract price of $9,307,328.00 and expenses incurred or to be
incurred by the City in the making of the improvement in the amount of
$3,056,052.00 for a total cost of the improvement of $12,363,380.00.
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 benefited properties is
$7,863,380.00.
The portion of the cost to be assessed against benefited properties pursuant to the Elk
River City Assessment Policies shall be $4,500,000.00
The assessments shall be payable in equal annual installments and shall extend over a
period of seven to fifteen years, the first of the installments to be payable on or before
the first Monday in January, 2000, with interest at the rate of 8.0% 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.
ATTEST:
Sandra A. Peine, City Clerk
Passed and adopted this 28th day of September, 1998.
Duitsman, Mayor
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