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<br />. <br /> <br />RESOLUTION 87- 57 <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 />THE DEERFIELD 3RD ADDITION IMPROVEMENT OF 1986 <br /> <br />WHEREAS, costs have been determined for the Deerfield 3rd Addition <br />improvement consisting of a contract price of $756,900.00 and <br />expenses incurred or to be incurred by the City in the making of <br />the improvement in the amount of $287,850.00 for a total cost of <br />the improvement of $1,044,750.00. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of El k River, <br />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 $ -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 />$1,044,750.00. <br /> <br />. <br /> <br />3. The assessments shall be payable in equal annual installments and shall <br />extend over a period of 15 years, the first of the installments to be <br />payable on or before the first Monday in January, 1989, with interest <br />at the rate of9.25%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 <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 proposed <br />assessment roll for public inspection. <br /> <br />5. Upon completion of the proposed assessment roll, the City Administrator <br />shall notify the Council and schedule a public hearing upon the <br />proposed assessment, causing notice of the hearing by publication and <br />mail to be made at least two weeks prior to the hearing. <br /> <br />Passed and adopted <br /> <br /> <br />is 5th day of October, 1987. , <br />(':> . " I.. r-c),) I' ji <br />(' 41f1/./f' (~. ./~/(-?"~,t - <br />Este e . Gunkel, Mayor <br /> <br />ATTEST: <br /> <br />. <br /> <br />