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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION 88 - 75 <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 />MAIN STREET, PROCTOR AVENUE & JACKSON AVENUE IMPROVEMENT OF 1988 <br /> <br />WHEREAS, costs have been determined for the Main St., Proctor Ave. <br />& Jackson improvement consisting of a contract price of <br />$1,435,000.00 and expenses incurred or to be incurred by the City <br />in the making of the improvement in the amount of $401,800.00 for <br />a total cost of the improvement of $1,836.800.00. <br /> <br />NOW, THEREFORE, IT IT RESOLVED by the City Council of the City of Elk <br />River, Minnesota: <br /> <br />1. Based upon the City Assessment Policies, it is determined that the <br />portion of this improvement to be paid by the City and not assessed to <br />benefitted properties is $1,261,000.. <br /> <br />2. The portion of the cost to be assessed against benefitted properties <br />pursuant to the Elk River City Assessment Policies shall be $575,000.00. <br /> <br />3. The assessments shall be payable in equal annual installments and <br />shall extend over a period of 5 or 10 years, the first of the <br />installments to be payable on or before the first Monday in January, <br />1989, with interest at the rate of 7.75% per annum from the date <br />of the adoption of the assessment resolution. <br /> <br />4. The City Administrator with the assistance of the Project Engineer <br />shall forthwith calculate the proper amount to be specially assessed <br />for such improvement against every assessable lot, piece, or parcel of <br />land, without regard to cash valuation, as provided by law, and shall <br />have available at the City Administrator's office a copy of the pro- <br />posed assessment roll for public inspection. <br /> <br />5. Upon completion of the proposed assessment roll, the City <br />Administrator shall notify the Council and schedule a public hearing <br />upon the proposed assessment, causing notice of the hearing by <br />publication and mail to be made at least two weeks prior to the <br />hearing. <br /> <br />Passed and adopted this 12th day of September, 1988. <br /> <br />&dl c ~A~J <br />Estelle E. Gunkel, Mayor <br /> <br />ATTEST: <br />~~R);1/~ <br />Patrick D. Klaers, City Administrator <br />