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CITY OF LAKE ELMO WASHINGTON COUNTY STATE OF MINNESOTA RESOLUTION NO.2020-103 A RESOLUTION DECLARING COST TO BE ASSESSED AND CALLING HEARING ON PROPOSED ASSESSMENT FOR HERITAGE FARM STREET AND UTILITY IMPROVEMENTS WHEREAS, estimated project costs have been calculated for the Heritage Farm Street and Utility Improvements including street, drainage, watermain, and sanitary sewer improvements along Lisbon Avenue North, Lisbon Avenue Court North, and 30`h Street Circle North in the Heritage Farm Development; and WHEREAS, the estimated total cost of the improvements is $3,730,300. WHEREAS, the City Clerk and City Engineer have prepared the proposed assessment roll and will maintain said assessment roll on file in the City offices for public inspection. NOW, THEREFORE, BE IT RESOLVED, 1. The portion of the cost of such street and drainage improvements to be paid by the City is hereby declared to be $1,677,900, and the portion of the cost to be assessed against benefited property owners is declared to be $625,600. 2. The portion of the cost of such sanitary sewer improvements to be paid by the City is hereby declared to be $0.00, and the portion of the cost to be assessed against benefited property owners is declared to be $972,400. 3. The portion of the cost of such watermain improvements to be paid by the City is hereby declared to be $454,400, and the portion of the cost to be assessed against benefited property owners is declared to be $0.00. 4. The City Clerk, with the assistance of the City Engineer, has calculated the proper amount to be specially assessed for such improvements against every assessable lot, piece or parcel of land to be benefited by the improvements, and the Clerk has filed a copy of such proposed assessment in the City offices for public inspection. 5. Assessments shall be payable in equal annual installments extending over 15 years for street and drainage improvements, and 20 years for sanitary sewer improvements, the first of the installments to be payable on or before the first Monday in January, 2022 and shall bear interest at the rate of 3.50 percent per annum from the date of the adoption of the assessment resolution. 6. A public hearing shall be held on the 19th day of January, 2021 and may be conducted in the Council Chambers of City Hall, or conducted by electronic means pursuant to Minnesota Statutes Section 13D.021 because of the COVID-19 pandemic, during a regularly scheduled City Council meeting at or approximately after 7:00 P.M. to pass upon