99-037 RESWHEREAS,
NOW,
1.
RESOLUTION 99 - 37
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION ADOPTING FINAL ASSESSMENT ROLL
IN THE MATTER OF THE SCHOOL STREET IMPROVEMENT OF 1999
upon due notice properly made as required by law, the Elk River City Council
has met and heard and passed upon all objections to the proposed assessment
for the School Street improvement and has determined the amount to be
assessed against each individual property as the Council deems just;
THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River, Minnesota:
The final assessment roll, a copy of which is attached hereto and incorporated herein by
this reference, is hereby accepted and adopted and shall constitute the special
assessment against the lands therein named. Each such tract of land in the assessment
roll is hereby found to be benefited by the improvement in an amount not less than the
amount of the assessment levied against it.
Such assessment shall be payable in equal annual installments, including both principal
and interest, amortized in such amount annually as is required to pay the principal with
interest at 7.0% over a period of 5 or 10 years.
The owner of any property so assessed, may, at any time prior to certification to the
County Auditor of the assessment or the first installment thereof, pay to the City
Treasurer the whole of the assessment on such property, with interest accrued to the
date of payment; except that no interest shall be charged if the entire assessment is
paid within 30 days after the adoption of this Resolution. Prepayment may also be made
after the certification of the assessment or first installment thereof by paying to the City
Treasurer/County Auditor the entire amount of the assessment remaining unpaid with
interest. In the case of a payment made before November 15, interest will be calculated
through December 31 of the year in which payment is made. If payment is made after
November 15, interest will be calculated through December 31 of the next succeeding
year.
The City Administrator shall transmit to the County Auditor a certified duplicate of the
attached assessment roll to be extended on the property tax lists of the County. Such
assessment shall be collected and paid over in the same manner as other municipal
taxes.
Passed and adopted this 10th day of May, 1999
ATTEST:
Sandra A Pe~ne, C~ty Clerk
,l~t~,'~ ., , ~,
Ste~hanie A. Klinzing, mayor
\\Elkriver\sys\SHRDOC\DOCUMEN'~RESOLUTI\SSFROLL. DOC
Project:
Project No:
Parcel:
Owner:
ASSESSMENT SCHEDULE
Constant Principal Payment Method
1999 Elk River SchoolStreetlmprovements
803570J
75-133-1102
Elk River lSD No. 728
Interest Start Date: 1-Dec-99
Repayment Period: 10 yrs
Interest Rate: 7.00%
Assessments: Quantity
Street and Utility
Improvements 1
Unit Measure
LS
Unit Price
94,694.62
Amount
94,694.62
YEAR
1999
2OOO $
2001 $
2002 $
2003 $
2004 $
2005 $
2006 $
2007 $
2008 $
2009 $
ANNUAL
PAYMENT
16 661.07
15 435.22
14 772.36
14 109.50
13 446.64
12 783.77
12 120.91
11 458.05
10 795.19
10 132.32
$ 131,715.03
PRINCIPAL
PAYM E N T
$ - $
$ 9,469.46 $
$ 9,469.46 $
$ 9,469.46 $
$ 9,469.46 $
$ 9,469.46 $
$ 9,469.46 $
$ 9,469.46 $
$ 9,469.46 $
$ 9,469.46 $
$ 9,469.46 $
Total Annual Payments
INTEREST
PAYMENT
7,191.60
5,965.76
5,302.90
4,640.04
3,977.17
3,314.31
2,651.45
1,988.59
1,325.72
662.86
PRINCIPAL
REMAINING
$ 94,694.62
$ 85,225.16
$ 75,755.70
$ 66,286.24
$ 56,816.77
$ 47,347.31
$ 37,877.85
$ 28,408.39
$ 18,938.92
$ 9,469.46
$
o:\proj\80357Oj\O564\assesssch 1 4/23/99
ASSESSMENT SCHEDULE
Constant Principal Payment Method
Project: 1999 Elk River School Street Improvements
Project No: 803570J
Parcel: 75-134-2100
Owner: Elk River lSD No. 728
Interest Start Date: 1-Dec-99
Repayment Period: 10 yrs
Interest Rate: 7.00%
Ao
Assessments: Quantity
Street and Utility
Improvements 1
Unit Measure
LS
Unit Price
44,475.55
Amount
44,475.55
YEAR
1999
2000 $
2001 $
2OO2 $
2003 $
2004 $
2005 $
2006 $
2007 $
2008 $
2009 $
ANNUAL PRINCIPAL
PAYMENT PAYMENT
$ $
7,825.26 $ 4,447.55 $
7,249.51 $ 4,447.55 $
6,938.19 $ 4,447.55 $
6,626.86 $ 4,447.55 $
6,315.53 $ 4,447.55 $
6,004.20 $ 4,447.55 $
5,692.87 $ 4,447.55 $
5,381.54 $ 4,447.55 $
5,070.21 $ 4,447.55 $
4,758.88 $ 4,447.55 $
61,863.05 Total Annual Payments
INTEREST
PAYMENT
- $
3,377.70 $
2,801.96 $
2,490.63 $
2,179.30 $
1,867.97 $
1,556.64 $
1,245.32 $
933.99 $
622.66 $
311.33 $
PRINCIPAL
REMAINING
44 475.55
40 027.99
35 580.44
31 132.88
26 685.33
22 237.77
17 790.22
13 342.66
8,895.11
4,447.55
0.00
o:\proj\803570j\0564\assesssch 2 4~23~99
Project:
Project No: 803570J
Parcel: 75-133-1101
ASSESSMENT SCHEDULE
Constant Principal Payment Method
1999 Elk River School Street Improvements
Owner: Excelsior Properties
Interest Start Date: 1-Dec-99
Repayment Period: 5 yrs
Interest Rate: 7.00%
Assessments:
A. Sidewalk Construction
Quantity
100.01
Unit Measure
FF
Unit Price
12.00
Amount
1,200.12
YEAR
1999
2OOO $
2001 $
2OO2 $
2003 $
2OO4 $
ANNUAL PRINCIPAL
PAYMENT PAYMENT
$ $
331.17 $ 240.02 $
307.23 $ 240.02 $
290.43 $ 240.02 $
273.63 $ 240.02 $
256.83 $ 240.02 $
1,459.28 Total Annual Payments
INTEREST
PAYMENT
- $
91.14 $
67.21 $
50.41 $
33.60 $
16.80 $
PRINCIPAL
REMAINING
1,200.12
960.10
720.07
480.05
240.02
o:\proj\803570j\0564\assesssch 3 4/23/99
ASSESSMENT SCHEDULE
Constant Principal Payment Method
Project: 1999 Elk River School Street Improvements
Project No: 803570J
Parcel: 75-133-1103
Owner: Central Lutheran Church
Interest Start Date: 1-Dec-99
Repayment Period: 5 yrs
Interest Rate: 7.00%
Assessments:
A. Sidewalk Construction
Quantity
642.89
Unit Measure
FF
Unit Price
12.00
Amount
7,714.68
YEAR
1999
2000 $
2001 $
2002 $
2003 $
2004 $
ANNUAL PRINCIPAL
PAYMENT PAYMENT
$ $
2,128.83 $ 1,542.94 $
1,974.96 $ 1,542.94 $
1,866.95 $ 1,542.94 $
1,758.95 $ 1,542.94 $
1,650.94 $ 1,542.94 $
9,380.63 Total Annual Payments
INTEREST
PAYMENT
$
585.89 $
432.02 $
324.02 $
216.01 $
108.01 $
PRINCIPAL
REMAINING
7,714.68
6,171.74
4,628.81
3,085.87
1,542.94
o:\proj\803570j\0564\assesssch 4 4~23~99
Project:
Project No:
Parcel:
Owner:
ASSESSMENT SCHEDULE
Constant Principal Payment Method
1999 Elk River SchoolStreetlmprovements
803570J
75-133-1105
Excelsior Properties
Interest Start Date: 1-Dec-99
Repayment Period: 5 yrs
Interest Rate: 7.00%
Assessments: Quantity Unit Measure Unit Price
A. Sidewalk Construction 269.03 FF 12.00
Amount
3,228.36
YEAR
1999
2OOO $
2001 $
2002 $
2003 $
2004 $
ANNUAL
PAYMENT
890.85
826.46
781.26
736.07
690.87
$ 3,925.51
PRINCIPAL
PAYMENT
$
$ 645.67
$ 645.67
$ 645.67
$ 645.67
$ 645.67
INTEREST
PAYMENT
$ -
$ 245.18
$ 180.79
$ 135.59
$ 90.39
$ 45.20
Total Annual Payments
PRINCIPAL
REMAINING
$ 3,228.36
$ 2,582.69
$ 1,937.02
$ 1,291.34
$ 645.67
$ -
o:\proj\803570j\0564\assesssch 5 4/23/99
ASSESSMENT SCHEDULE
Constant Principal Payment Method
Project: 1999 Elk River School Street Improvements
Project No: 803570J
Parcel: 75-133-1115
Owner: Alan J. Hecker, et al.
Interest Start Date: 1-Dec-99
Repayment Period: 5 yrs
Interest Rate: 7.00%
Assessments:
A. Sidewalk Construction
Quantity
242.03
Unit Measure
FF
Unit Price
12.00
Amount
2,904.36
YEAR
1999
2000 $
2001 $
2002 $
2003 $
2004 $
ANNUAL PRINCIPAL
PAYMENT PAYMENT
$ $
801.44 $ 580.87 $
743.52 $ 580.87 $
702.86 $ 580.87 $
662.19 $ 580.87 $
621.53 $ 580.87 $
3,531.54 Total Annual Payments
INTEREST
PAYMENT
$
220.57 $
162.64 $
121.98 $
81.32 $
40.66 $
PRINCIPAL
REMAINING
2,904.36
2,323.49
1,742.62
1,161.74
580.87
o:\proj\803570j\0564\assesssch 6 4/23/99
Project:
Project No:
Parcel:
Owner:
ASSESSMENT SCHEDULE
Constant Principal Payment Method
1999 Elk River School Streetlmprovements
803570J
75-134-2200
Larry & Arlyce Morrell
Interest Start Date: 1-Dec-99
Repayment Period: 5 yrs
Interest Rate: 7.00%
Assessments: Quantity Unit Measure Unit Price
A. Sidewalk Construction 400.16 FF 12.00
Amount
4,801.92
YEAR
ANNUAL PRINCIPAL
PAYMENT PAYMENT
1999
2000 $ 1,325.07 $ 960.38
2001 $ 1,229.29 $ 960.38
2002 $ 1,162.06 $ 960.38
2003 $ 1,094.84 $ 960.38
2004 $ 1,027.61 $ 960.38
$ 5,838.87
Total Annual Payments
INTEREST
PAYMENT
364.68
268.91
201.68
134.45
67.23
PRINCIPAL
REMAINING
$ 4,801.92
$ 3,841.54
$ 2,881.15
$ 1,920.77
$ 960.38
$ -
o:\proj\80357Oj\O564\assesssch 7 4/23/99
Project:
Project No:
Parcel:
Owner:
ASSESSMENT SCHEDULE
Constant Principal Payment Method
1999 Elk River SchoolStreetlmprovements
803570J
75-134-2201
Christ & Miss Alliance Church
Interest Start Date: 1-Dec-99
Repayment Period: 5 yrs
Interest Rate: 7.00%
Assessments:
Sidewalk Construction
Quantity
404.86
Unit Measure
FF
Unit Price
12.00
Amount
4,858.32
YEAR
1999
2000
2001
2002
2003
2004
ANNUAL
PAYMENT
PRINCIPAL
PAYMENT
$ - $
1,340.63 $ 971.66 $
1,243.73 $ 971.66 $
1,175.71 $ 971.66 $
1,107.70 $ 971.66 $
1,039.68 $ 971.66 $
5,907.45
Total Annual Payments
INTEREST
PAYMENT
368.97
272.07
204.05
136.03
68.02
PRINCIPAL
REMAINING
$ 4,858.32
$ 3,886.66
$ 2,914.99
$ 1,943.33
$ 971.66
$
o:\proj\803570j\0564\assesssch 8 4/23/99
Project:
Project No:
Parcel:
Owner:
ASSESSMENT SCHEDULE
Constant Principal Payment Method
1999 Elk River SchooIStreetlmprovements
8o357oJ
75-134-2202
Lions Park Partnership
Interest Start Date: 1-Dec-99
Repayment Period: 5 yrs
Interest Rate: 7.00%
Assessments: Quantity Unit Measure Unit Price
A. Sidewalk Construction 300.12 FF 12.00
Amount
$ 3,601.44
YEAR
1999
2000 $
2001 $
2OO2 $
2003 $
2OO4 $
ANNUAL
PAYMENT
PRINCIPAL INTEREST
PAYMENT PAYMENT
$ - $
993.80 $ 720.29 $ 273.51
921.97 $ 720.29 $ 201.68
871.55 $ 720.29 $ 151.26
821.13 $ 720.29 $ 100.84
770.71 $ 720.29 $ 50.42
$ 4,379.15
Total Annual Payments
PRINCIPAL
REMAINING
$ 3,601.44
$ 2,881.15
$ 2,160.86
$ 1,440.58
$ 720.29
$
o:\proj\803570j\0564\assesssch 9 4/23/99
ASSESSMENT SCHEDULE
Constant Principal Payment Method
Project: 1999 Elk River School Street Improvements
Project No: 803570J
Parcel: 75-134-2205
Owner: William & G. Dahlheimer
Interest Start Date: 1-Dec-99
Repayment Period: 5 yrs
Interest Rate: 7.00%
Assessments:
A. Sidewalk Construction
Quantity
200.08
Unit Measure
FF
Unit Price
12.00
Amount
2,400.96
YEAR
1999
2000 $
2001 $
2002 $
2003 $
2004 $
ANNUAL PRINCIPAL
PAYMENT PAYMENT
$ $
662.53 $ 480.19 $
614.65 $ 480.19 $
581.03 $ 480.19 $
547.42 $ 480.19 $
513.81 $ 480.19 $
2,919.44 Total Annual Payments
INTEREST
PAYMENT
-
182.34
134.45
100.84
67.23
33.61
PRINCIPAL
REMAINING
2,400.96
1,920.77
1,440.58
960.38
480.19
o:\proj\803570j\0564\assesssch 10 4/23/99