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<br />CITY OF LAKE ELMO <br />WASHINGTON COUNTY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. 2024-102 <br />A RESOLUTION DECLARING COST TO BE ASSESSED AND CALLING <br />HEARING ON PROPOSED ASSESSMENT FOR THE <br />2024 STREET AND UTILITY IMPROVEMENTS <br /> <br />WHEREAS, estimated total project costs have been calculated for the 2024 Street and <br />Utility Improvements including street, drainage, and water system improvements; and <br /> <br />WHEREAS, the total cost of the public improvements will be $2,418,000. <br /> <br />WHEREAS, the City Clerk and City Engineer have prepared the proposed assessment roll <br />and will maintain said assessment roll on file in the City offices for public inspection. <br /> <br />NOW, THEREFORE, BE IT RESOLVED, <br /> <br />1. The portion of the cost of such street and drainage improvements to be covered by the City <br />is hereby declared to be $1,374,000 and the portion of the cost to be assessed against <br />benefited property owners is declared to be $626,000. <br /> <br />2. The portion of the cost of such watermain improvements to be covered by the City is hereby <br />declared to be $418,000 and the portion of the cost to be assessed against benefited property <br />owners is declared to be $0. <br /> <br />3. The City Clerk, with the assistance of the City Engineer, has calculated the proper amount <br />to be specially assessed for such improvements against every assessable lot, piece or parcel <br />of land to be benefited by the improvements, and the Clerk has filed a copy of such <br />proposed assessment in the City offices for public inspection. <br /> <br />4. Assessments shall be payable in equal annual installments extending over 15 years for <br />street and drainage improvements, the first of the installments to be payable on or before <br />the first Monday in January, 2025 and shall bear interest at the rate of 5.5 percent per annum <br />from the date of the adoption of the assessment resolution. <br /> <br />5. A public hearing shall be held on the 15th day of October, 2024, in the Council Chambers <br />of the City Hall at or approximately after 7:00 P.M. to pass upon such proposed assessment. <br />All persons owning property affected by such improvement will be given an opportunity <br />to be heard with reference to such assessment. <br /> <br />6. The City Clerk is hereby directed to cause a notice of the hearing on the proposed <br />assessment to be published once in the official newspaper at least two weeks prior to the <br />hearing, and she shall state in the notice the total cost of the improvement. She shall also <br />cause mailed notice to be given to the owner of each parcel described in the assessment <br />roll not less than two weeks prior to the hearings. <br /> <br />7. The owner of any property so assessed may, at any time prior to certification of the <br />assessment to the county auditor, pay the entire assessment on such property, with interest