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<br />. <br /> <br />e <br /> <br />e <br /> <br />RESOLUTION 9S - 48 <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 />1995 OVERLAY IMPROVEMENT OF 1995 <br /> <br />\\'HEREAS costs have been determined for the 1995 overlay improvement consisting of a <br />contract price of $214.600.00 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 cost of <br />tbe improvement of $236.000.00. <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 $0. <br /> <br />2. <br /> <br />The portion of the cost to be assessed against benefitted properties pursuant to the Elk <br />River City Assessment Policies shall be $236,000.00. <br /> <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 /> <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 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 />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 the <br />hearing by publication and mail to be made at least two weeks prior to the hearing. <br /> <br />Passed and adopted this 24th day of July, 1995. <br /> <br /> <br />;;z <br />.~._-:-_~~ c? <br />Sandra Thackeray. City Clerk <br /> <br />