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RESOLUTION DECLARING COST TO BE ASSESSED AND <br />ORDERING PREPARATION OF PROPOSED ASSESSMENT <br />WHEREAS, <br />Costs have been determined for the removal of hazardous building at 2620 Rice Street <br />and the contract price for such removal is $5,300.00 and the expenses incurred or to be <br />incurred in the making of such improvement amount is $4,984.28 so that the total cost of <br />the improvement will be $10,284.28. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF LITTLE <br />CANADA, MINNESOTA: <br />1. The portion of the cost of such improvement to be paid by the City and other <br />sources is hereby declared to be $4,984.28 and the portion of the cost to be <br />assessed against benefited property owners is declared to be $5,300.00. <br />Assessments shall be payable in equal annual installments extending over a period <br />of five years, the first of the installments to be payable on or before the first <br />Monday in January, 1998, and shall bear interest at the rate of 6.75 percent per <br />annum from the date of the adoption of the assessment resolution. <br />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 22nd day of October, 1997. <br />Attest: <br />Michael I. Fahey, Mayor <br />Joel R. Hanson, City Administrator <br />Page 120 <br />