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2002-029 Council Resolution
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2002-029 Council Resolution
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12/1/2015 4:01:14 PM
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12/1/2015 11:45:30 AM
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City Council
Council Document Type
Resolutions
Meeting Date
04/08/2002
Council Meeting Type
Regular
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CITY'S IMPROVEMENTS <br />In accordance with the policies and ordinances of the City, the following described <br />improvements (hereinafter collectively called the "Improvements"), as referenced in the plans and <br />specifications adopted by the City Council shall be constructed and installed by the City to serve the <br />Property on the terms and conditions herein set forth: <br />A. The construction of City Improvements generally including reconstruction of Lake <br />Drive, construction of Apollo Drive, construction of Marketplace Drive, storm <br />sewer, sanitary sewer and water main within Apollo Drive, and sidewalks. <br />B. Construction Procedures <br />1. All City Improvements above shall be instituted, constructed and financed <br />pursuant to Minnesota Statute §429 and City Charter providing that such <br />Improvements be made and assessed against the benefited properties. <br />C. Levy of Special Assessments and Required Payment Therefore.. <br />1. The entire cost of the installation of such Improvements, including any <br />reasonable engineering, legal and administrative costs incurred by the City, <br />shall be assessed against the benefited properties in accordance with City <br />policy existing the date of this Agreement, payable over a term of 10 years in <br />equal semi-annual installments of principal and interest at a rate of 7% per <br />annum. The pro rata share of such assessment for the "Property" (Lot 2, <br />Block 1, Lino Lakes Market Place 2nd Addition) shall not exceed <br />$51,411.89. All special assessments levied hereto shall be payable in semi- <br />annual installments over ten (10) years and shall be certified to the Anoka <br />County Auditor for collection with the Real Estate Taxes. <br />2. The Developer waives any and all procedural and substantive objections to <br />the installation of the public improvements and the special assessments, <br />including but not limited to hearing requirements and any claim that the <br />assessments exceed the benefit to the Property. In the event the total of all <br />City Installed Improvements is less than originally estimated by the City <br />Engineer in his feasibility report, Developer waives any appeal rights <br />otherwise available pursuant to M.S.A. §429.081. <br />04/03/02 4 TCF Agreement <br />
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