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RESOLUTION 97 - 10 <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 />LOWELL AVENUE IMPROVEMENT OF 1997 <br /> <br />WHEREAS <br /> <br />costs have been determined for the Lowell Avenue improvement consisting of a <br />contract price of $50,625.55 and expenses incurred or to be incurred by the City <br />in the making of the improvement in the amount of $14,175.15 for a total cost of <br />the improvement of $64,800.70. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council for the City of Elk River, <br />Minnesota: <br /> <br />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 />$32,200.00. <br /> <br />The portion of the cost to be assessed against benefitted properties pursuant to the Elk <br />River City Assessment Policies shall be $32,600.00. <br /> <br />The assessments shall be payable in equal annual installments including and coinciding <br />with real estate tax payments and shall extend over a period of 5, 10, or 15 years. The <br />first of the installments will be included on your 1998 tax statement unless prepaid with <br />interest at the rate of 8 % per annum starting December 1, 1997. <br /> <br />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 law, and <br />shall have available to the City Administrator's office a copy of the proposed assessment <br />roll for public inspection. <br /> <br />o <br /> <br />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 the <br />hearing by publication and mail to be made at least two weeks prior to the hearing. <br /> <br /> Passed and adopted this 27th day of Janua~, 1997. <br /> <br />ATTESt. ~ ~ <br /> <br />Sandra A. Thackeray, City Clerk // <br /> <br />j;;t~,~' Duitsm~in, Mayor <br /> <br />230/331-1504.jan <br /> <br /> <br />