07-008 RES
e
e
e
RESOLUTION 07-08
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
DEERFIELD 3RD ADDITION STREET /STORM DRAINAGE RECONSTRUCTION
IMPROVEMENT OF 2007
WHEREAS costs have been determined for the Deerfield 3'" Addition Street/Storm Drainage
Reconstruction Improvement consisting of an estimated contract price of $3,556,800, and
expenses incurred or to be incurred by the City in the making of the improvement in the
amount of $1,173,700, for a total cost of the improvement of $4,730,500.
NOW, THEREFORE, BE IT RESOLVED by the Gty Council of the Gty of Elk River, Minnesota:
1.
Based upon the Gty Assessment Policies, it is detenruned that the portion of this improvement to be
paid by the City and not assessed to benefited properties is $3,433,850.
The portion of the cost to be assessed against benefited properties pursuant to the Elk River City
Assessment Policies shall be $1,296,750.
The assessments shall be payable in equal annual installments and shall extend over a period of ten
years, the first of the installments to be payable on or before the first Monday in January, 2008, with
interest at the rate of 5.75 % 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 at 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 heating.
2.
3.
4.
5.
Passed and adopted this 16'" day of January, 2007.
ATIE:~::/
j/~
tfJ?
. 'Y,J6rrh'''4 a. ~~v~"t
Steph:i/lle A. Klinzing, Mayor
Tina Allard, City Clerk
01- ()~