2.0. HRSR 03-10-1998 - Laserfiche WebLink

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The table below lists the types of improvements that can be financed with special assessments. All of the public improvements needed to implement the Plan are eligible for financing with special assessments. • To acquire,open and widen any street,and to improve the same by constructing, reconstructing and maintaining sidewalks, pavement,gut- ters,curbs and vehicle parking strips of any material,or by grading,graveling,oiling or otherwise improving the same,including the beauti- fication thereof and including storm sewers or other street drainage and connections from sewer,water or similar mains to curb lines. • To acquire,develop,construct,extend and maintain storm and sanitary sewers and systems,including outlets,holding areas and ponds,treat- ment plants,pumps,lift stations,service connections and other appurtenances of a sewer system,within and without the corporate limits. • To construct,reconstruct,extend and maintain steam heating mains. • To install,replace,extend and maintain street lights and street lighting systems and special lighting systems. • To acquire, improve, construct, reconstruct, extend and maintain water works systems, including mains, valves, hydrants, service connec- tions, wells, pumps,reservoirs, tanks, treatment plants and other appurtenances of a water works system, within and without the corporate limits. • To acquire,improve and equip parks,open space areas,playgrounds and recreational facilities within or without the corporate limits. • To plant trees on streets and provide for their trimming,care and removal. • To abate nuisances and to drain swamps,marshes and ponds on public or private property and to fill the same. • To construct,reconstruct,extend and maintain dikes and other flood control works. • To construct,reconstruct,extend and maintain retaining walls and area walls. • To acquire,construct,reconstruct,improve,alter,extend,operate,maintain and promote a pedestrian skyway system. • To acquire,construct,reconstruct,extend,operate,maintain and promote underground pedestrian concourses. • To acquire,construct,improve,alter,extend,operate,maintain and promote public malls,plazas or courtyards. • To construct,reconstruct,extend and maintain district heating systems. • To construct,reconstruct,alter,extend,operate,maintain and promote fire protection systems in existing buildings,but only upon a petition pursuant to section 429.031,subdivision 3. • To acquire,construct,reconstruct,improve,alter,extend and maintain freeway sound barriers. • To improve,construct,reconstruct,extend and maintain gas and electric distribution facilities owned by a municipal gas or electric utility. Types of Improvements financed with Special Assessments include a wide range of public actions. • Special assessments provide a means to borrow money to finance public improvements. • Chapter 429 conveys the power to issue "general obligation improve- ment bonds" to finance the design and construction of public improve- ments. Important factors in the use of improvement bonds include: • A minimum of 20% of the cost of the improvement must be assessed against benefitted properties. • Beyond the 20% threshold, any other legally available source of municipal revenue may be used to pay debt service on improvement bonds. • Improvements bonds are not subject to any statutory debt limit. • Improvement bonds may be issued without voter approval. • Careful consideration must be given to setting the amount of the assess- ment. State Law sets one important limit on the amount of a special assessment. The amount of an assessment cannot exceed benefit to property as measured by increased market value. Within this limitation, several factors will shape the amount of the assessment: • Reducing the amount of the assessment below 20% of the improvement cost impairs the ability to issue bonds. • Local improvement policies and/or decisions made on previous projects r �1I 1ta • • _ A New Bridge Q- Revitalizing Monticello's Downtown and Riverfront Page 4:16