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RESOLUTION DECLARING COST TO BE ASSESSED AND <br />ORDERING PREPARATION OF PROPOSED ASSESSMENT <br />COUNTY ROAD B -2 EAST <br />IMPROVEMENT NO. 2004-12 <br />WHEREAS, <br />Contracts have been let for the improvement of County Road B -2 East from Rice Street <br />to Viking Drive by street reconstruction including concrete curb and gutter as well as <br />drainage enhancements and the price for such improvement is estimated at $1,170,000 <br />and the expenses incurred in making of such improvement are estimated at $234,000 so <br />that the total cost of the improvement is estimated at $1,404,000. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF LITTLE <br />CANADA, MINNESOTA: <br />4,03 3 rS. 7 <br />1. The portion of the c t of such improvement to be paid by the City is hereby <br />declared to be $8 and the portion of the cost to be assessed against <br />benefited property owners is declared to be $800,680.29. <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, 2006, and shall bear interest at the rate of five and three - <br />quarters percent per annum (5.75 %) from the date of the adoption of the <br />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 28th day of September, 2005. <br />Attest: <br />William Blesener, Mayor <br />Joel R. Hanson, City Administrator <br />- 1 5 - <br />