HomeMy WebLinkAbout25-025 - Resolution - 2025 Street Reconstruction - Pine Haven - AssessmentsCITY OF LINO LAKES
RESOLUTION NO. 25-25
RESOLUTION DECLARING COST TO BE ASSESSED, AND ORDERING PREPARATION
OF PROPOSED ASSESSMENT
2025 STREET RECONSTRUCTION AND SEWER AND WATER EXTENSION PROJECT
WHEREAS, the City of Lino Lakes received bids for the 2025 Street Reconstruction and
Sewer and Water Extension Project, Pine Haven, on February 11, 2025 and the total project cost
will be $1,604,530.00; and
WHEREAS, Minnesota Statute 429.061 provides that the City Council shall determine by
resolution the amount of the total expense a municipality will pay other than amount, if any,
which it will pay as a property owner and the amount to be specially assessed.
NOW, THEREFORE BE IT RESOLVED by The City Council of The City of Lino Lakes:
1. The City's share of the total cost of the above -described improvement is hereby declared to
be $1,124,530.00 and the portion of the cost to be assessed against benefited property owners is
declared to be $480,000,00,
2. Assessments shall be payable in equal annual installments extending over a period of 15
years, the first of the installments to be payable on or before the first Monday in January, 2026
and shall bear interest at the rate of 5 percent per annum from the date of the adoption of the
assessment resolution.
3. The City Clerk, with the assistance of the City's 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 assessment area affected, without regard to cash valuation, as provided
by law, and file a copy of such proposed assessment in the Clerk's office for public inspection.
4. The Clerk shall upon the completion of such proposed assessment, notify the Council thereof.
Adopted by the Council of the City of Lino Lakes this 241h day of February, 2025.
Ro of erty, Mayor
ATTEST:
Roberta Colotti, CM`C, City Clerk