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<br />RESOLUTION 06- <br /> <br />A RESOLUTION FOR THE CITY OF ELK RIVER <br /> <br />A RESOLUTION DETERMINING ASSESSED COST OF <br />IMPROVEMENT AND ORDERING PREPARATION OF <br />PROPOSED ASSESSMENT ROLL IN THE MATTER OF <br />DODGE AVENUE IMPROVEMENT OF 2006 <br /> <br />WHEREAS <br /> <br />costs have been determined for the Dodge Avenue improvement consisting of a contract <br />price of $224,000, and expenses incurred or to be incurred by the City in the making of the <br />improvement in the amount of $57,000, for a total cost of the improvement of $281,000. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River, Minnesota: <br /> <br />1. Based upon the City Assessment Policies, it is determined that the portion of this improvement to be <br />paid by the City and not assessed to benefited properties is $168,000. <br />2. The portion of the cost to be assessed against benefited properties pursuant to the Elk River City <br />Assessment Policies shall be $113,000. <br />3. The assessments shall be payable in equal annual installments and shall extend over a period of 15 <br />years, the first of the installments to be payable on or before the first Monday in January, 2008, with <br />interest at the rate of 5.50% per 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 calculate the <br />proper amount to be specially assessed for such improvement against every assessable lot, piece, or <br />parcel of land, without regard to cash valuation, as provided by law, and shall have available at the <br />City Administrator's office a copy of the proposed assessment roll for public inspection. <br />5. Upon completion of the proposed assessment roll, the City Administrator shall notify the Council <br />and schedule a public hearing upon the proposed assessment, causing notice of the hearing by <br />publication and mail to be made at least two weeks prior to the hearing. <br /> <br />Passed and adopted this 6th day of March 2006. <br /> <br />Stephanie A. Klinzing, Mayor <br /> <br />ATTEST: <br /> <br />Joan M. Schmidt, City Clerk <br /> <br />S:\EngineerImprovProj\2006 Improvement Projects\Dodge Avenue\Determ cost-order assessm roll. doc <br />