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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION 92 - 104 <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 />HOLT A VENUE AND 4TH STREET IMPROVEMENT OF 1992 <br /> <br />WHEREAS costs have been determined for the Holt Avenue and 4th Street improvement consisting <br />of a contract price of $130,120.78 and expenses incurred or to be incurred by the City <br />in the making of the improvement in the amount of $36,433.82 for a total cost of the <br />improvement of $166,554.60. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council for the City of Elk River, Minnesota: <br /> <br />1. Based upon the City Assessment Policies, it is determined that the portion of this improvement <br />to be paid by the City and not assessed to benefitted properties is $66,554.60. <br /> <br />2. The portion of the cost to be assessed against benefitted properties pursuant to the Elk River City <br />Assessment Policies shall be $100,000.00. <br /> <br />3. <br /> <br />The assessments shall be payable in equal annual installments and shall extend over a period of <br />5, 10, or 15 years, the first of the installments to be payable on or before the first Monday in <br />January, 1994, with interest at the rate of 7.50% per annum from the date of the adoption of the <br />assessment resolution. <br /> <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, <br />or parcel of land, without regard to cash valuation, as provided by law, and shall have available <br />to the City Administrator's office a copy of the proposed assessment roll for public inspection. <br /> <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 />ATTEST: <br /> <br />Passed and adopted this 26th day of October, 1992. <br /> <br />~J~!If ~ <br /> <br />James A. Tralle, Mayor <br /> <br /> <br />;!(! <br />Sandra A. Thackeray, City Administrat <br /> <br />RES-146.oct <br />