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<br />. <br /> <br />e <br /> <br />e <br /> <br />RESOLUTION 93 - <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 MATIER OF <br />FRESNO STREET AND DRAINAGE IMPROVEMENT OF 1993 <br /> <br />WHEREAS costs have been determined for the Fresno Street and Drainage Improvement <br />consisting of a contract price of $93,952 and expenses incurred or to be incurred <br />by the City in the making of the improvement in the amount of $ 26,307 for a <br />total cost of the improvement of $120,259. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council for the City of Elk River, <br />Minnesota: <br /> <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 benefitted properties is <br />$55,411.30 <br /> <br />2. The portion of the cost to be assessed against benefitted properties pursuant to the Elk <br />River City Assessment Policies shall be $64,847.70. <br /> <br />3. <br /> <br />The assessments shall be payable in equal annual installments and shall extend over a <br />period of five years, the first of the installments to be payable on or before the frrst <br />Monday in January, 1995, with interest at the rate of 6.5% per annum from the date of <br />the adoption of the assessment resolution. <br /> <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 against every <br />assessable lot, piece, or parcel of land, without regard to cash valuation, as provided by <br />law, and shall have available to the City Administrator's office a copy of the proposed <br />assessment roll for public inspection. <br /> <br />5. Upon completion of the proposed assessment roll, the City Administrator shall notify the <br />Council and schedule a public hearing upon the proposed assessment, causing notice of <br />the hearing by publication and mail to be made at least two weeks prior to the hearing. <br /> <br />Passed and adopted this 7th day of September, 1993. <br /> <br />Henry A. Duitsman, Mayor <br /> <br />ATIEST: <br /> <br />Sandra A. Thackeray <br /> <br />rea-230.1S9 <br />