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RESOLUTION 01 - 10 <br /> <br />A RESOLUTION FOR THE CITY OF ELK RIVER <br /> <br /> A RESOLUTION DETERMINING ASSESSED COST OF <br /> IMPROVEMENT AND ORDERING PREPARATION OF <br />PROPOSED ASSESSMENT ROLL IN THE MATTER OF <br />DOWNTOWN SIDEWALK REPLACEMENT IMPROVEMENT OF 2001 <br /> <br />WHEREAS <br /> <br />costs have been determined for the Downtown Sidewalk Replacement <br />improvement consisting of a contract price of $263,700.00 and expenses <br />incurred or to be incurred by the City in the making of the improvement in <br />the amount of $26,400.00 for a total cost of the improvement of <br />$290,100.00. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council for the City of Elk River, <br />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 <br />$231,600.00. <br /> <br />The portion of the cost to be assessed against benefited properties pursuant to <br />the Elk River City Assessment Policies shall be $58,500.00. <br /> <br />o <br /> <br />The assessments shall be payable in equal annual installments and shall extend <br />over a period of three or five years, the first of the installments to be payable on <br />or before the first Monday in January, 2002, with interest at the rate of 6.50% per <br />annum from the date of 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 <br />against every assessable lot, piece, or parcel of land, without regard to cash <br />valuation, as provided by law, and shall have available to the City Administrator's <br />office a copy of the proposed assessment roll for public inspection. <br /> <br />Upon completion of the proposed assessment roll, the City Administrator shall <br />notify the Council and schedule a public hearing upon the proposed assessment, <br />causing notice of the hearing by publication and mail to be made at least two <br />weeks prior to the hearing. <br /> <br /> Passed and adopted this 26th day of February, 2001. <br /> <br />~Sandra A. Peine, City Clerk <br /> <br />C:\TEMP\RESOLUTIONS NOTICE.doc <br /> <br /> <br />