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Council Member Lyden introduced the following resolutions and moved its adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NO. 99-76 <br />RESOLUTION DECLARING COST TO BE ASSESSED, AND ORDERING PREPARATION OF <br />PROPOSED ASSESSMENT, LAKES ADDITION STREET RECONSTRUCTION <br />IMPROVEMENTS <br />WHEREAS, a contract has been let for the improvement of Lakes Addition Street Reconstruction <br />Improvements by constructing street, curb and gutter, and storm sewer, and the contract (bid) <br />price for such improvements is $1,842,492.50, and the expenses incurred or to be incurred in the <br />making of such improvement amount to $396,083.00, so that the total cost of the improvement <br />will be $2,238,575.50. <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 city is hereby declared to be <br />$1,681,340.50 and the portion of the cost be assessed against benefited property owners is <br />declared to be $557,235. <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 />2000, 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 proposed as•ess' ent , notify the council <br />thereof. 1 <br />Adopted by the council this 13th day of Septemb <br />Ry; lf.AU kktttStif <br />hestad, City Clerk <br />The motion for adoption of the foregoing resolution was duly seconded by Council Member <br />Dah1 and upon vote being taken thereon, the following voted in favor thereof: <br />Sullivan, Bergeson, Dahl, Lyden, Neal <br />The following voted against same: <br />None <br />Whereupon said solution was declared passed and adopted. <br />CERTIFICATION <br />I hereby certify that the above is a correct copy of a resolution <br />by the City Council on September 13, 1999. <br />ly passed, adopted and approved <br />'as AL <br />RY-CHEL D. UAi.-'1� <br />NOTARY PUBLIC - MINNESOT <br />My Commission Expires Jan. 31, 2000 <br />Gaustad, City Clerk <br />