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EXTRACT OF MINUTES <br />OF CITY COUNCIL <br />OF CITY OF LITTLE CANADA <br />RAMSEY COUNTY, MINNESOTA <br />OCTOBER 20, 1999 <br />Pursuant to due call and notice thereof, the City Council of the city of Little Canada met in <br />regular session at the City Center on Wednesday, October 20, 1999 at 7:00 P.M. <br />The following members were present: Fahey, LaValle, Scalze, Morelan, Pedersen. <br />The following members were absent: <br />Council Member introduced the following resolution and moved its adoption: <br />RESOLUTION NO. <br />A RESOLUTION APPROVING AND ADOPTING THE ASSESSMENT <br />ROLL FOR IMPROVEMENT NO. 98 -24, MINNESOTA AVENUE <br />FROM RICE STREET TO ITS TERMINATION AS A PUBLIC RIGHT -OF -WAY AT <br />THE EAST ENTRANCE OF COBBLESTONE VILLAGE <br />BY STREET RECONSTRUCTION, CONCRETE CURB AND GUTTER, CONCRETE <br />DRIVEWAY APRONS, AND STORM SEWER <br />COUNTY NO. 6737 <br />INTEREST RATE — 7 PERCENT <br />INSTALLMENT — TEN YEARS <br />WHEREAS, <br />Pursuant to proper notice duly given as required by law, the Council has met and passed upon all <br />objections to the proposed assessment for the improvement of Minnesota Avenue from Rice <br />Street to its termination as a public right -of -way at the east entrance of Cobblestone Village by <br />street reconstruction, concrete curb and gutter, concrete driveway aprons, and storm sewer. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF LITTLE CANADA, <br />MINNESOTA: <br />Such proposed assessment, a copy of which is attached hereto and made a part hereof, is <br />hereby accepted and shall constitute the special assessment against the lands named <br />therein, and each tract of land therein included is hereby found to be benefited by the <br />proposed improvement in the amount of an assessment levied against it. <br />2. Such assessment shall be payable in equal annual installments extending over a period of <br />ten years, the first of the installments to be payable on or before the first Monday in <br />January, 2000 and shall bear interest at the rate of 7 percent per annum from the date of <br />the adoption of this assessment resolution. To the first installment shall be added interest <br />on the entire assessment from the date of this resolution until December 31, 1999. To <br />each subsequent installment when due shall be added interest for one year on all unpaid <br />installments. <br />Page 2 <br />