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Ms. Susan Hoyt <br /> November 12, 1993 <br /> Page 4 <br /> 4. The school district lets the contract for the improvement in accordance with <br /> normal public bidding and contracting requirements. <br /> 5. The City pays for work pursuant to the payout terms of the cooperative <br /> agreement. The City is limited to payment of 95% of the amount earned <br /> under the contract pursuant to Minn. Stat. 429.041, subd. 6. Upon <br /> satisfactory completion of work, final payment (100% of contract amount) can <br /> be made. <br /> 6. The City adopts assessment pursuant to the normal assessment procedure. <br /> See Minn. Stat. 429.061. This includes published notice, mailed notice, <br /> public hearing, etc., as in a standard assessment hearing, even though only <br /> one property owner is being assessed and the property owner has previously <br /> agreed to pay the assessment. <br /> If you wish to proceed on this project, I think you should request that the school <br /> district prepare an appropriate petition, containing at least the elements set forth above. <br /> If you wish, feel free to provide a copy of this letter to the school district. I would be <br /> happy to talk with anyone at the school district to clarify or discuss any matter contained <br /> in this letter. <br /> If you have any questions, please call me as soon as possible. In particular, I need <br /> to know if you want me to proceed with drafting the cooperative agreement and, if so, <br /> what the time schedule is. We also need to discuss precisely how you envision the payout <br /> provisions under the cooperative agreement working. <br /> Very truly yours, <br /> LEONARD, STREET AND DEINARD <br /> By <br /> 0. ier.....4,..... <br /> Peter H. Bachman <br /> PHB /elp <br /> PHB \FALCON\HOY1.L34 <br />