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RESOLUTION DECLARING COST TO I3E ASSESSED AND <br />ORDERING PREPARATION OF PROPOSEll ASSESSMENT <br />CONDI'T STREET <br />IMPROVEMENT N0.2008-02 <br />WHEREAS, <br />Contracts have been let for the improvement of Condit Street from Nadeau Road to South <br />Owasso Blvd. by road reconstruction, concrete curb and gutter and drainage <br />enhancements and the price for such improvement is estimated at $246,560.16 <br />and the expenses incurred in making of such improvement are estimated at $78,968.OS <br />so that the total cost of the improvement is estimated at $32S,S28.21. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF LITTLE <br />CANADA, MINNESOTA: <br />The portion of the cost of such improvement to he paid by the City is hereby <br />declared to be $193,134.35 and the portion of the cost to be assessed against <br />benefited property owners is declared to be $132,393.86. <br />2. Assessments shall be payable in equal annual installments extending over a period <br />often years, the first of the installments to be payable on or before the first <br />Monday in January, 2009, and shall bear interest at the rate of six and one-quarter <br />percent pet• annum (6.25%) from the date of the adoption of the assessment <br />resolution. <br />3. The City Administrator, with the assistance of the City Engineer shall forthwith <br />calculate the proper amount to be specially assessed for such improvement against <br />every assessable lot, piece or parcel of land within the district affected, without <br />regard to cash valuation, as provided by law, and he shall file a copy of such <br />proposed assessment in his office for public inspection. <br />4. 'fhe City Administrator shall upon the completion of such proposed assessment, <br />notify the Council thereof. <br />Adopted by the Council this 24th day of September, 2008. <br />William Blesener, Mayor <br />AttesC: <br />Joel R. Hanson, City Administrator <br />