RES 08-036DSO UTION - 036
. RESOLUTION FOR THE CITY of ELK RIVER
. RESOLUTION DETERMINING ASSESSED COST of
IMPROVEMENT AND ORDERING PREPARATION OF
PROPOSED ASSESSMENT ROL IN THE MATTER of
BITUMINOUS OVERLAY IMPROVEMENT OF 2008
WHEREAS, costs have been determined for the 2008 I it n-� o s Overlay improvement consisting of a
contract price of $570,240, and expenses incurred or to be incurred by the City in the
making of the improvement in die amount of $77,760, for a total of die improvement of
$048,000.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River lVfinnesota:
Based upon the City Assessment Policies, it is detern-�ned that die portion of des improvement to be
paid by the City and not assessed to benefited properties is $-0-.
. The portion of the cast to be assessed against benefited properties pursuant to the Elk- River City
Assessment c e shall be $648,,000.
3. The assessments shall be payable in equal annual installments and shaft extend over a period of five
years, the first of die installments to be payable on or before the fist Monday in arena r , '2009, With
interest at die rate of ,0% per annum from die date of die adoption of die assessment resolution.
4. The City Administrator with the assistance of the Project Engineer shaH fordwith calculate the
proper amount to be specially assessed for such improvement ag ,nst every assessable lot, piece, or
Parcel of land, Nvidio t regard to cash valuation, as provided by law, and shall have available at the
City Administrator's office a copy* of dhe proposed assessment roll for public ins ecdo .
5. Upon completion of the proposed assessment roll, the City Administrator shall nod r the Cou c
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 die hearing.
Passed and ado ted this 1 di day of May, 2008.
TS`:
.r
Tina Allard, City Clerk
Ste ha re A. K"En ing, a y yor
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