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<br />Passed and adopted by the City <br />16th day of May, 1991. <br /> <br />Council a/the. City ~iv.er...thiS <br /> <br />~u!-f(~~ <br /> <br />James A. Tralle, Mayor <br /> <br /> <br />RESOLUTION 91 - 34 <br /> <br />RESOLUTION FOR THE CITY OF ELK RIVER <br /> <br />e <br /> <br />A RESOLUTION DETERMINING ASSESSED COST OF IMPROVEMENT AND <br />ORDERING PREPARATION OF PROPOSED ASSESSMENT ROLL IN <br />THE MATTER OF PROCTOR AVENUE IMPROVEMENT OF 1991 <br /> <br />WHEREAS, <br /> <br />costs have been determined for the Proctor Avenue <br />improvement consisting of a contract price of $600,000 and <br />expenses incurred or to be incurred by the City in the <br />making of the improvement in the amount of $168,000 for a <br />total cost of the improvement of $768,000. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City <br />of Elk River, Minnesota: <br /> <br />1. Based upon the City Assessment Policies, it is <br />determined that the portion of this improvement to be <br />paid by the City and not assessed to benefitted <br />properties is $543,000. <br /> <br />2. The portion of the cost to be assessed against <br />benefitted properties pursuant to the Elk River <br />City Assessment Policies shall be $225,000. <br /> <br />3. <br /> <br />The assessments shall be payable in equal, annual <br />installments included and coinciding with real estate <br />tax payments and shall extend over a period of 5 <br />years. The first of the installments will be <br />included on your 1992 tax statement unless prepaid <br />with interest at the rate of 8% per annum starting <br />November 1, 1991. <br /> <br />e <br /> <br />4. The City Administrator, with the assistance of the <br />Project Engineer, shall forthwith calculate the <br />proper amount to be specifically assessed for such <br />improvement against every assessable lot, piece, or <br />parcel of land, without regard to cash valuation, as <br />provided by law, and shall have available at the City <br />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 <br />City Administrator shall notify the Council and <br />schedule a public hearing upon the proposed <br />assessment, causing notice of the hearing by <br />publication and mail to be made at least two weeks <br />prior to the hearing. <br /> <br />e <br /> <br />ATTEST: ' <br />i / <br /> <br />/ // /;1 -~ .. <br />_S.21~2}4,t:A:t+L_~/i(J.{.t:'{'/tu~~L~ <br />Sandra A. Thackeray, City C~k <br />