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<br />. <br /> <br />RESOLUTION 89 - 25 <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 />KNOLLWOOD AREA OVERLAY IMPROVEMENT OF 1989 <br /> <br />WHEREAS, costs have been determined for the Knollwood Area Overlay <br />improvement consisting of a contract price of $100,000 and <br />expenses incurred or to be incurred by the City in the making of <br />the improvement in the amount of $28,000 for a total cost of the <br />improvement of $128,000. <br /> <br />NOW, THEREFORE, IT IT RESOLVED by the City Council of the City of Elk <br />River, Minnesota: <br /> <br />. <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 $ -0-. <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 <br />$128,000. <br /> <br />3. The assessments shall be payable in equal annual installments and shall <br />extend over a period of 5 years, the first of the installments to be <br />payable on or before the first Monday in January, 1990, with interest <br />at the rate of 8.5 % per annum from the date of the adoption of <br />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 />heari ng. <br /> <br />. <br /> <br />Passed and adopted this 15 day of May, 1989. <br /> <br />~lWlu /f --;;:;e& <br /> <br />James A. Tralle, Mayor <br /> <br />ATTE~ <br />Arw?l? q~y <br />Patrick D. Klaers, City Administrator <br />