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RESOLUTION DECLARING COST TO BE ASSESSED AND <br />ORDERING PREPARATION OF PROPOSED ASSESSMENT <br />PAYNE AVENUE <br />IMPROVEMENT NO. 2011-04 <br />WHEREAS, <br />Contracts have been let for the improvement of Payne Avenue by full depth mill and <br />overlay of bituminous street surface as well as repair /replacement of damaged concrete <br />curb and gutter sections and the price for such improvement is estimated at $ and <br />the expenses incurred in making of such improvement are estimated at $ so that <br />the total cost of the improvement is estimated at $ <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 be paid by the City is hereby <br />declared to be $ and the portion of the cost to be assessed against <br />benefited property owners is declared to be $ <br />2. Assessments shall be payable in equal annual installments extending over a period <br />of ten years, the first of the installments to be payable on or before the first <br />Monday in January, 2012, and shall bear interest at the rate of percent per <br />annum ( %) from the date of the adoption of the assessment 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. The City Administrator shall upon the completion of such proposed assessment, <br />notify the Council thereof. <br />Adopted by the Council this 14th day of September, 2011. <br />Attest: <br />William Blesener, Mayor <br />Joel R. Hanson, City Administrator <br />4 <br />