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RESOLUTION DECLARING COST TO BE ASSESSED AND <br />ORDERING PREPARATION OF PROPOSED ASSESSMENT <br />PINETREE POND <br />IMPROVEMENT NO. 2013-08 <br />WHEREAS, <br />Bids have been received for the improvement of Pinetree Pond development by streets, <br />utilities, grading, and drainage including storm sewer and the price for such improvement <br />is estimated at $684,000 00 and the expenses incurred in making of such improvement <br />are estimated at $171,000.00 so that the total cost of the improvement is estimated at <br />$855,000.00. <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 is hereby <br />declared to be $0.00 and the portion of the cost to be assessed against benefited <br />property owners is declared to be $855,000.00. <br />2. Assessments shall be payable in equal annual installments extending over a period <br />of three 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 three and three - <br />quarter percent per annum (3.75 %) 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 August, 3013. <br />Attest: <br />William Blesener, Mayor <br />Joel R. Hanson, City Administrator <br />3 <br />