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CITY OF LAKE ELMO WASHINGTON COUNTY STATE OF MINNESOTA a WHEREAS, a contract has been let for the Keats MS A Street and Trunk Watemiam Improvements including street reconstruction and storm sewer improvements located along Keats Avenue between Highway 36 and 47th Street and trunk watermain improvements along Keats Avenue between 59t" Street and 47 1h Street and along 47"' Street from Keats Avenue to 45t" Street; and WHEREAS, the total cost of the street improvements will be $1,244,120; and WHEREAS, the total cost of the water improvements will be $826,014; and 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 RE, SOLVED, The portion of the cost of such street improvement to be paid by the City is hereby declared to be $1,169,320, and the portion of the cost to be assessed against benefited property owners is declared to be $74,800. I The portion of the cost of such water improvement to be paid by the City is hereby declared to be $762,214, and the portion of the cost to be assessed against benefited property owners is declared to be $63,800, 3. The City Clerk, with the assistance of the City Engineer, has calculated the proper amount to be Z--� 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. 4. Assessments shall be payable in equal annual installments extending over a period of 10 years, the first of the installments to be payable on or before the first Monday in, January, 2014, and shall bear interest at the rate of 4.5 percent per annimi from the date of the adoption of the assessment resolution. 5. A public hearing shall be held on the 6 1h day of November, 2013, in the Council Chambers of the City Hall at or approximately after 7:00 P.M. to pass upon such proposed assessment, All persons owning property affected by such improvement will be given an opportunity to be heard with reference to such assessment. 6: The City Clerk- is hereby directed to cause a notice of the bearing on the proposed assessment to be published once in the official newspaper at least two weeks prior to the hearing, and he shall state in the notice the total cost of the improvement, He shall also cause mailed notice to be given Resolution No. 2013-81