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• <br />• <br />CITY OF LINO LAKES <br />RESOLUTION NO. 03-160 <br />DECLARING COST TO BE ASSESSED, AND ORDERING PREPARATION OF <br />PROPOSED ASSESSMENT, TWILIGHT ACRESNINILIGHT ACRES 2ND ADDITION <br />SANITARY SEWER IMPROVEMENT PROJECT <br />WHEREAS, bids have been received for the installation of sanitary sewer to the Nancy <br />DriveNicky Lane neighborhood; and the bid price, including change order, for such <br />improvements is $290,482.40, and the expenses incurred or to be incurred in the <br />making of such improvement amount to $94,492.60 so that the cost of the improvement <br />will be $384,975.00. <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 <br />declared to be $53,610.17, CDBG funding paid for $125,000.00 and the portion <br />of the cost to be assessed against benefited property owners is declared to be <br />$206,364.83. <br />2. Assessments shall be payable in equal annual installments extending over a <br />period of 15 years, the first of the installments to be payable on or before the first <br />Monday in January 2004, and shall bear interest at the rate of 7 percent per <br />annum from the date of the adoption of the assessment resolution. <br />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 <br />to cash valuation, as provided by law, and she shall file a copy of such proposed <br />assessment in her office for public inspection. <br />4. The clerk shall upon the completion of such proposed assessment, notify the <br />council thereof. <br />Adopted by the Lino Lakes City Council this 22'd day of September, 2003. <br />Ann Blair, City Clerk <br />John Berg on, M or <br />