08/10/1998 Council Minutes - Laserfiche WebLink

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