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Council Member Elliott introduced the following resolution and <br />moved its adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NO. 95 — 114 <br />RESOLUTION DECLARING COSTS TO BE ASSESSED AND ORDERING PREPARATION <br />OF ASSESSMENT ROLL, COUNTRY LAKES PRESERVE, PLAT 2 <br />WHEREAS, contracts have been awarded for the improvement of <br />Country Lakes Estates, Plat 2 and the contract price for <br />such improvement is $219,099.70, and <br />WHEREAS, additional costs outlined in the Development Agreement <br />have been determined to be $166,553.30 so that the total <br />cost of the improvement to be assessed is $385,653.00. <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 <br />City is hereby declared to be zero and the portion of the cost <br />to be assessed against benefitted property owners is declared <br />to be $385,653.00. <br />2. Assessments shall be payable in equal annual installments <br />extending over a period of fifteen years, the first <br />installment to be payable on or before the first Monday in <br />January, 1996, and shall bear interest at the rate of seven <br />and one-half (7 1/2) per cent per annum from the date of the <br />adoption of the assessment resolution. <br />3. The City Clerk, with the assistance of the City Engineer shall <br />forthwith calculate the proper amount to be specially assessed <br />for such improvement against every assessable lot, piece or <br />parcel of land within the district affected, without regard to <br />cash valuation, as provided by law, and she shall file a copy <br />of such assessment in her office for public inspection. <br />4. The City Clerk shall upon the completion of such proposed <br />assessment, notify the City Council thereof. <br />Adopted by the City Council this 25th day of September, 1995. <br />Marilyn <br />Vernon F. Reinert, Mayor <br />Anderson, Clerk -Treasurer <br />