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Council Member Bergeson introduced the following resolution <br /> and moved its adoption: <br /> CITY OF LINO LAKES <br /> RESOLUTION NO. 98-132 <br /> RESOLUTION DECLARING COST TO BE ASSESSED,AND ORDERING <br /> PREPARATION OF PROPOSED ASSESSMENT,PHEASANT HILLS PRESERVE 8TH <br /> ADDITION <br /> WHEREAS, Pheasant Hills Preserve 8th Addition, is a"contractor improvement'and a <br /> contractor for the construction of improvements was not awarded by the City of <br /> Lino Lakes and the cost of the construction is not included in the assessment total, <br /> and; <br /> WHEREAS, additional costs outlined in the Development Agreement have been determined to <br /> be$95,338.33 so that the total cost of the improvement to be assessed is <br /> $95,338.33. <br /> NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF LINO LAKES, <br /> MINNESOTA: <br /> 1. The portion of the cost of such improvement to be paid by the City is hereby declared to <br /> be$0.00, and the portion of the cost to be assessed against benefitting property owners is <br /> declared to be$95,338.33. <br /> 2. Assessment shall be payable in equal annual installments extending over a period of <br /> fifteen years, the first of the installments to be payable on or before the fast Monday in <br /> January, 1999,and shall bear interest at the rate of 7 percent per annum from the date of <br /> the adoption of the assessment resolution. <br /> 3. The City Clerk, with the assistance of the City Engineer, shall forthwith calculate the <br /> property amount to be specially assessed for such improvement against every assessable <br /> lot, piece, or parcel of land within the district affected, without regard to cash valuation, <br /> as provided by law, and he shall file a copy of such proposed assessments in his office for <br /> public inspection. <br /> 4. The Clerk shall,upon the completion of such proposed assessment, notify the Council <br /> thereof. <br /> u <br />