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MINUTES <br />CITY COUNCIL <br />OCTOBER 17, 2005 <br />Upon motion by LaValle, seconded by Keis, the public hearing was <br />closed. <br />Mr. LaValle introduced the following resolution and moved its adoption: <br />RESOLUTION NO. 2005-IO-247 -ADOPTING THE ASSESSMENT <br />ROLL FOR IMPROVEMENT NO. 2004-II, NOEL DRIVE FROM <br />LITTLE CANADA ROAD TO LAHORE ROAD, BYROAD <br />RECONSTRUCTION, CONCRETE CURB AND GUTTER, AND <br />DRAINAGE ENHANCEMENTS AS PROPOSED BY THE CITY <br />ENGINEER <br />ASSESSMENT TERM - 70 YEARS <br />INTEREST RATE - 5.75 PERCENT <br />The foregoing resolution was duly seconded by Blesener. <br />Ayes (4). <br />Nays (0). Resolution declared adopted. <br />IMPa NO. Mayor Blesener opened the Assessment Hearing for Improvement No. <br />2004-13 - 2004-13, County Road D from Edgerton Street approximately 875 feel <br />COUNTY to the west by water main construction. <br />ROAD D <br />The City Engineer reviewed Che project costs reporting that estimated <br />actual costs are $30,000.00 and actual assessable costs are $23,072.00. <br />The Engineer reviewed the City's residential assessment policy for water <br />main improvements which assesses 100% of the cost with a maximum <br />assessment of $5,768.00 per lot. <br />The Engineer then reviewed assessment payment methods noting that <br />property owners can pay their assessment in full or in part, with no interest <br />accruing, at the City within 30 days of adoption of the assessment roll. <br />Unpaid assessments will be certified to Ramsey County after the initial 30 <br />day period for collection with property taxes. The assessments will be <br />spread over 10 years at 5.75% interest per year. The Engineer also noted <br />that any time after certification, property owners can pay their assessment <br />off in full to Ramsey County. If at some point property owners intend to <br />pay their assessment off prior to the 10 year term, payment should be <br />made prior to November 15'h of the year in which paid. Otherwise, State <br />Statute requires that the next years interest be charged against the <br />assessment balance. <br />At this point, the public hearing was opened for comments from the <br />general public. There was no one from the general public present at the <br />