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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 improvement of Keller Parkway <br />lying between a point approximately 700 feet northeasterly of <br />Little Canada Road and Arcade Street by water main improvement <br />and the contract price for such improvement is $ , <br />and the expenses incurred or to be incurred in the making of such <br />improvement amount is $ , so that the total cost of the <br />improvement will be $ <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 <br />the City is hereby declared to be $ and the <br />portion of the cost to be assessed against benefited <br />property owners is declared to be $ <br />2. Assessments shall be payable in equal annual installments <br />extending over a period of ten years, the first of the <br />installments to be payable on or before the first Monday in <br />January, 1996, and shall bear interest at the rate of 7.25 <br />percent per annum from the date of the adoption of the <br />assessment resolution. <br />3. The City Administrator, with the assistance of the City <br />Engineer shall forthwith calculate the proper amount to be <br />specially assessed for such improvement against every <br />assessable lot, piece or parcel of land within the district <br />affected, without regard to cash valuation, as provided by <br />law, and he shall file a copy of such proposed assessment in <br />his office for public inspection. <br />4. The City Administrator shall upon the completion of such <br />proposed assessment, notify the Council thereof. <br />Adopted by the Council this 27th day of September, 1995. <br />Attest: <br />Michael I. Fahey, Mayor <br />Joel R. Hanson, City Administrator <br />Page 63 <br />