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• RESOLUTION 95 - <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 />1995 OVERLAY IMPROVEMENT OF 1995 <br />"V4'I-ll~;)~tF,.AS costs have been determined for the 1995 overlay improvement consisting of a <br />contract price of $214,b00.00 and expenses incurred or to be incurred by the City <br />in the making of the improvement in the amount of $21,400.00 for a total cast of <br />the improvement of $236,000.04. <br />NOW, T1-IEREFORE, BE IT RESOLVED by the City Council for the City of Elk River, <br />NSinnesota: <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 $0. <br />2. The portion of the cost to be assessed against benefitted properties pursuant to the E!k <br />• River City Assessment Policies shall be $236,000.00. <br />3. The assessments shall be payable in equal annual installments and shall extend over a <br />period of 5 years, the first. of the installments to be payable on or before the first Monday <br />in January, 1996, with interest at the rate of 8.0% per annum from the date of the adoption <br />of the assessment resolution. <br />4. The City Administrator with the assistance of the Project Engineer shall forthwith calculate <br />the proper amount to be specially assessed for such improvement against every assessable <br />lot, piece, or parcel of land, without regard to cash valuation, as provided by Iaw, and <br />shall have available to the City Administrator's office a copy of the proposed assessment <br />roll for public inspection. <br />S. Llpon 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 the <br />hearing by publication and mail to be made at least two weeks prior to the hearing. <br />Passed and adopted this 24th day of July, 1995. <br />• Hank Duitsman, Mayor ~ ~__ ~- <br />AT'i'EST: <br />Sand~•a Thackeray, City Clerk <br />