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<br />e <br /> <br />e <br /> <br />e <br /> <br />RESOLUTION 07-08 <br /> <br /> <br />A RESOLUTION FOR THE CITY OF ELK RIVER <br /> <br />A RESOLUTION DETERMINING ASSESSED COST OF IMPROVEMENT AND ORDERING <br />PREPARATION OF PROPOSED ASSESSMENT ROLL IN THE MATTER OF <br />DEERFIELD 3RD ADDITION STREET /STORM DRAINAGE RECONSTRUCTION <br />IMPROVEMENT OF 2007 <br /> <br />WHEREAS costs have been determined for the Deerfield 3'" Addition Street/Storm Drainage <br />Reconstruction Improvement consisting of an estimated contract price of $3,556,800, and <br />expenses incurred or to be incurred by the City in the making of the improvement in the <br />amount of $1,173,700, for a total cost of the improvement of $4,730,500. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the Gty Council of the Gty of Elk River, Minnesota: <br /> <br />1. <br /> <br />Based upon the Gty Assessment Policies, it is detenruned that the portion of this improvement to be <br />paid by the City and not assessed to benefited properties is $3,433,850. <br />The portion of the cost to be assessed against benefited properties pursuant to the Elk River City <br />Assessment Policies shall be $1,296,750. <br />The assessments shall be payable in equal annual installments and shall extend over a period of ten <br />years, the first of the installments to be payable on or before the first Monday in January, 2008, with <br />interest at the rate of 5.75 % per annum from the date of the adoption of the assessment resolution. <br />The City Administrator with the assistance of the Project Engineer shall forthwith calculate the <br />proper amount to be specially assessed for such improvement against every assessable lot, piece, or <br />parcel of land, without regard to cash valuation, as provided by law, and shall have available at the <br />City Administrator's office a copy of the proposed assessment roll for public inspection. <br />Upon completion of the proposed assessment roll, the City Administrator shall notify the Council <br />and schedule a public hearing upon the proposed assessment, causing notice of the hearing by <br />publication and mail to be made at least two weeks prior to the heating. <br /> <br />2. <br /> <br />3. <br /> <br />4. <br /> <br />5. <br /> <br />Passed and adopted this 16'" day of January, 2007. <br /> <br />ATIE:~::/ <br />j/~ <br /> <br />tfJ? <br /> <br />. 'Y,J6rrh'''4 a. ~~v~"t <br /> <br />Steph:i/lle A. Klinzing, Mayor <br /> <br />Tina Allard, City Clerk <br /> <br />01- ()~ <br />