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RESOLUTION DECLARING COST TO BE ASSESSED AND <br />ORDERING PREPARATION OF PROPOSED ASSESSMENT <br />SPRUCE STREET (Country Drive to Railroad) <br />IMPROVEMENT NO. 2013 -01 <br />WHEREAS, <br />Bids have been received for the improvement of Spruce Street (from Country Drive to <br />Railroad) by full reconstruction including concrete curb and gutter and an upgraded storm <br />sewer system and the price for such improvement is estimated at $406,718.17 and the <br />expenses incurred in making of such improvement are estimated at $101,679.54 so that <br />the total cost of the improvement is estimated at $508,397.71. <br />NOW THEREFORE, BE ff 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 is hereby <br />declared to be $141,397.71 and the portion of the cost to be assessed against <br />benefited property owners is declared to be $367,000.00. <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, 2014, and shall bear interest at the rate of four and one /half <br />percent per annum (4.5 %) 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. The City Administrator shall upon the completion of such proposed assessment, <br />notify the Council thereof. <br />Adopted by the Council this 24th day of April, 2013. <br />Attest: <br />William Blesener, Mayor <br />Joel R. Hanson, City Administrator <br />