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Council Member Bergeson adoption: introduced the following resolution and moved its CITY OF LINO LAKES RESOLUTION NO. 98- 134 RESOLUTION DECLARING COSTS TO BE ASSESSED AND ORDERING PREPARATION OF PROPOSED ASSESSMENT ROLL, BEHM'S CENTURY FARM 4TH ADDITION WHEREAS, WHEREAS, Behm's Century Farm 4th Addition is a "developer improvement" and a contractor for the construction of the improvements was not awarded by the City of Lino Lakes and the cost of construction is not included in the assessment total, and; additional cost identified in the Development Agreement have been determined to be $ 171,844.40 so that the total cost of the improvement to be assessed is $ 171,844.40. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LINO LAKES, MINNESOTA: 1. The portion of the cost of such improvement to be paid by the City is hereby declared to be zero, and the portion of the cost to be assessed against benefited property owners is declared to be $ 171,844.40. 2. The assessment shall be payable in equal annual installments extending over a period of fifteen years, the first of the installments to be payable on or before the first Monday in January, 1999, and shall bear interest at the rate of 7 percent 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 the City Clerk shall file a copy of such improvement in her office for public inspection. 4. The Clerk shall, upon the completion of such proposed assessment, notify the City Council thereof. Adopted by the Council of the City of Lin GdmAY1-- Marlyn G. nderson, Clerk -Treasurer - is . •` riolt AA, Ki • of August, 1998. an, Mayor