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No. 97-14 CITY OF FALCON HEIGHTS COUNCIL RESOLUTION Date: Mav 14, 1997 RESOLUTION ADOPTING ASSESSMENT OF LINDIG STREET CONSTRUCTION PROJECT WHEREAS, the City of Falcon Heights, Minnesota (the "city") has determined to contract for the improvements (the "improvements") described in the assessment attached to and incorporated in this resolution affecting Lindig Street between Larpenteur Avenue and the north end; and WHEREAS, pursuant to Minnesota Statutes Section 429.051, the city intends to assess the property owners benefitted by the improvements for the cost of the improvements, as set forth in the assessment; and • WHEREAS, pursuantto Minnesota Statut es section 429.031, subdivision 1, the city has prepared preliminary plans for the proposed improvements, served notice upon all property owners within the area the city proposes to assess, and has heard and passed upon all objections to the assessment. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF FALCON HEIGHTS, MINNESOTA: The city finds that each parcel of land named in the assessment is benefitted by the proposed improvements in the amount of the assessment the city proposes to levy against it in the assessment. The city accepts the assessment and levies a special assessment against each parcel of land named in the assessment in the amount in the assessment. The special assessment shall be payable in equal annual installments of principal extending over a period often 1101 years. The special assessment shall bear interest at a rate of seven percent (7%) per annum from the date of this resolution. The first installment of principal shall be due and payable on or before the first Monday in the first January following the date of this resolution, together with interest which has accrued through December 31 of the preceding year. •