1992-101 Council Resolution - Laserfiche WebLink

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Council Member Elliott introduced the following resolution and moved its adoption: CITY OF LINO LAKES RESOLUTION NO. 92 - 101 RESOLUTION DECLARING COST TO BE ASSESSED AND ORDERING PREPARATION OF PROPOSED ASSESSMENT FOR PHEASANT HILLS PRESERVE AND PHEASANT HILLS PRESERVE, SECOND ADDITION WHEREAS: contracts have been awarded for improvement of Pheasant Hills Preserve and Pheasant Hills Preserve, Second Addition (sanitary sewer, watermain, streets, street lighting and drainage) and the contract price for such improvement is $495,962.66 and the expenses incurred or to be incurred in the making of such improvement amount to $43,396.08, and WHEREAS: it is the policy of the City of Lino Lakes to add area charges and unit charges and trunk charges to the assessment for said improvements so that the total cost of the improvement will be $798,124.22. 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-. The portion of the cost to be assessed against benefited property owners is declared to be $798,124.22. 2. Assessments shall be payable in equal annual installments extending over a period of fifteen (15) years, the first installments to be payable on or before the first Monday in January, 1993, and shall bear interest at the rate of nine (9.0%) per cent 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 proper 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 she shall file a copy of such proposed assessment in her office for public inspection. 4. The Clerk shall upon the completion of such proposed assessment, notify the Council thereof. PAGE 1