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Council Member <br />0' Donnell introduced the following resolutions and moved its adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NO. 01-141 <br />RESOLUTION DECLARING COST TO BE ASSESSED, AND ORDERING PREPARATION OF <br />PROPOSED ASSESSMENT, 12TH/HOLLY SUBDIVISION <br />WHEREAS, 12th/Holly Subdivision, is a "developer installed improvement" and a contract for the <br />construction of improvements was not awarded by the City of Lino Lakes and the cost of the <br />construction is not included in the assessment total, and; <br />WHEREAS, additional costs have been determined to be $.00 so that the total cost of the <br />improvement to be assessed is $86,564. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF LINO LAKES, <br />MINNESOTA: <br />1. <br />The portion of the cost of construction of such improvement to be paid by the City is hereby <br />declared to be $0.00 and the portion of the cost to be assessed against benefited property <br />owners is declared to be $86,564. <br />2. Assessments shall be payable in equal annual installments extending over a period of fifteen <br />years, the first of the installments to be payable on or before the first Monday in January, <br />2002, and shall bear interest at the rate of 7 percent per annum from the date of the adoption <br />of the assessment resolution. <br />3. The City Clerk, with the assistance of the City Engineer, shall forthwith calculate the proper <br />amount to be specially assessed for such improvement against every assessable lot, piece or <br />parcel of land within the district affected, without regard to cash valuation, as provided by law, <br />and she shall file a copy of such proposed assessment in her office for public inspection. <br />4. The City Clerk shall upon the completion of such propose assessment , notify the council <br />thereof. <br />Adopted by the council this 10th day of September, 2001 <br />er, Deputy City <br />rk <br />John «VBergeson, Mayor <br />The 1 otion for adoption o the foregoing resolution was duly seconded by Council Member <br />and upon vote being taken thereon, the following voted in favor thereof: <br />Bergeson, Carlson, Dahl, Reinert and O'Donnell <br />The following voted against same: None. <br />Whereupon said solution was declared passed and adopted. <br />CERTIFICATION <br />hereby certify that the above is a correct copy of a resolution duly passed, adopted and approved <br />by the City Council on September 10, 2001. <br />Jean <br />Deputy City Clerk <br />