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162 <br />COUNCIL MEETING AUGUST 8, 1988 <br />4. The Clerk shall upon the completion of such proposed <br />assessment, notify the Council thereof. <br />Adopted by the Council this 8th day . August, 1988. <br />Benjam <br />Mar i.lynUG. Anderson, Clerk - Treasurer <br />Benson, Mayor <br />Resolution No. 58 - 88 Declaring Cost to be Assessed and <br />Ordering Preparation of Proposed Assessment - Reshanau Lake <br />Estates South, 1st Addition - Mr. Reinert moved to adopt <br />this resolution. Mr. Bisel seconded the motion. Motion <br />carried unanimously. <br />CITY OF LINO LAKES <br />RESOLUTION NO. 58 - 88 <br />RESOLUTION DECLARING COST TO BE ASSESSED AND ORDERING <br />PREPARATION OF PROPOSED ASSESSMENT FOR RESHANAU LAKE ESTATES <br />SOUTH, 1ST ADDITION <br />WHEREAS, costs have been determined for the improvement <br />of Reshanau Lake Estates South, 1st Addition and <br />expenses incurred in the making of such improve- <br />ment amount to $570,916.00 so that the total cost <br />of the improvement will be $570,916.00. <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 <br />by the City is hereby declared to be $ and <br />the portion of the cost to be assessed against the <br />benefitted property owners is declared to be $ <br />2. Assessments shall be payable in equal annual install- <br />ments extending over a period of fifteen years, the <br />first installments to be payable on or before the <br />first Monday in January 1989, and shall bear interest <br />at the rate of nine (9) per cent per annum from the <br />date of the adoption of the assessment resolution. <br />PAGE 9 <br />