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RESOLUTION 98 - 68 <br /> <br />A RESOLUTION OF THE CITY OF ELK RIVER, MINNESOTA <br /> <br />A RESOLUTION DETERMINING ASSESSED COST OF IMPROVEMENT AND ORDERING <br />PREPARATION OF PROPOSED ASSESSMENT ROLL IN THE MATTER OF BOSTON <br />STREET IMPROVEMENT OF 1998 <br /> <br />WHEREAS <br /> <br />costs have been determined for the Boston Street improvement consisting of a <br />contract price of $51,469.73 and expenses incurred or to be incurred by the City <br />in the making of the improvement in the amount of $14,411.52 for a total cost of <br />the improvement of $65,881.25. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River, Minnesota: <br /> <br />Based upon the City Assessment Policies, it is determined that the portion of this <br />improvement to be paid by the City and not assessed to benefited properties is $0.00. <br /> <br />The portion of the cost to be assessed against benefited properties pursuant to the Elk <br />River City Assessment Policies shall be $65,881.25. <br /> <br />The assessments shall be payable in equal annual installments and shall extend over a <br />period of up to 15 years, the first of the installments to be payable on or before the first <br />Monday in January, 1999, with interest at the rate of 6.5% per annum from the date of <br />the adoption of the assessment resolution. <br /> <br />The City Administrator, with the assistance of the Project Engineer, shall forthwith <br />calculate the proper amount to be specially assessed for such improvement against <br />every assessable lot, piece, or parcel of land, without regard to cash valuation, as <br />provided by law, and shall have available at the City Administrator's office a copy of the <br />proposed assessment roll for public inspection. <br /> <br />Upon completion of the proposed assessment roll, the City Administrator shall notify the <br />Council and schedule a public hearing upon the proposed assessment, causing notice of <br />the hearing by publication and mail to be made at least two weeks prior to the hearing. <br /> <br />Passed and adopted this 15 day of June 1998. <br /> <br />Sandra A. Thackeray, City Clerk <br /> <br />\\SPNVVFS\VOL1~)ATA~PROJ~801210j~210-1103.june. Resolution.doc <br /> <br /> <br />