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RESOLUTION 01 - <br /> 4111 <br /> A RESOLUTION FOR THE CITY OF ELK RIVER <br /> A RESOLUTION DETERMINING ASSESSED COST OF <br /> IMPROVEMENT AND ORDERING PREPARATION OF <br /> PROPOSED ASSESSMENT ROLL IN THE MATTER OF <br /> DOWNTOWN SIDEWALK REPLACEMENT IMPROVEMENT OF 2001 <br /> WHEREAS costs have been determined for the Downtown Sidewalk Replacement <br /> improvement consisting of a contract price of $263,700.00 and expenses <br /> incurred or to be incurred by the City in the making of the improvement in <br /> the amount of $26,400.00 for a total cost of the improvement of <br /> $290,100.00. <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council for the City of Elk River, <br /> Minnesota: <br /> 1. Based upon the City Assessment Policies, it is determined that the portion of this <br /> improvement to be paid by the City and not assessed to benefited properties is <br /> $231,600.00. <br /> 2. The portion of the cost to be assessed against benefited properties pursuant to <br /> the Elk River City Assessment Policies shall be $58,500.00. <br /> 3. The assessments shall be payable in equal annual installments and shall extend <br /> over a period of three or five years, the first of the installments to be payable on <br /> or before the first Monday in January, 2002, with interest at the rate of 6.50% per <br /> annum from the date of the adoption of the assessment resolution. <br /> 4. The City Administrator with the assistance of the Project Engineer shall forthwith <br /> calculate the proper amount to be specially assessed for such improvement <br /> against every assessable lot, piece, or parcel of land, without regard to cash <br /> valuation, as provided by law, and shall have available to the City Administrator's <br /> office a copy of the proposed assessment roll for public inspection. <br /> 5. Upon completion of the proposed assessment roll, the City Administrator shall <br /> notify the Council and schedule a public hearing upon the proposed assessment, <br /> causing notice of the hearing by publication and mail to be made at least two <br /> weeks prior to the hearing. <br /> Passed and adopted this 26th day of February, 2001. <br /> ATTEST: Stephanie A. Klinzing, Mayor <br /> Sandra A. Peine, City Clerk <br /> C:\TEMP\RESOLUTIONS NOTICE.doc <br />