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Council Member <br />adoption: <br />introduced the following resolution and moved its <br />CITY OF LINO LAKES <br />RESOLUTION NO. 96 -106 <br />RESOLUTION DECLARING COSTS TO BE ASSESSED AND ORDERING <br />PREPARATION OF ASSESSMENT ROLL, TRAPPER'S CROSSING, PHASE I <br />WHEREAS, a contract has been let for the improvement of Trapper's Crossing, Phase I <br />and the contract price for such improvement is $690,205.24, and the <br />expenses incurred to be incurred in the making of such improvement <br />amount to $1,088,327.86 so that the total cost of the improvement will be <br />$1,778,533.10. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF LINO <br />LAKES, MINNESOTA: <br />1. The portion of the cost of such improvement to be paid by the City is hereby <br />declared to be $247,878.51 and the portion of the cost to be assessed against <br />benefited property owners is declared to be $1,530,654.59. <br />2. Assessment shall be payable in equal annual installments extending over a period <br />of fifteen years, the first installment to be payable on or before the first Monday in <br />January, 1997, and shall bear interest at the rate of per cent per <br />annum from the date of the adoption of the assessment resolution. <br />3. The City Clerk, with the assistance of the City Engineer shall forthwith calculate <br />the proper amount to be specially assessed for such improvement against every <br />assessable lot, piece or parcel of land within the district affected, without regard to <br />cash valuation, as provided by law, and she shall file a copy of such assessment in <br />her office for public inspection. <br />4. The City Clerk shall upon the completion of the proposed assessment, notify the <br />City Council thereof. <br />Adopted by the City Council this 9th day of September, 1996. <br />John L. Landers, Mayor <br />