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CITY OF LAKE ELMO WASHINGTON COUNTY STATE OF MINNESOTA RESOLUTION NO. 2007-067 A RESOLUTION DECLARING COST TO BE ASSESSED, ORDERING PREPARATION OF PROPOSED ASSESSMENT, AND CALLING FOR HEARING ON PROPOSED ASSESSMENT FOR THE 2006 OVERLAYS PROJECT WHEREAS, a contract was let for the 2006 Overlays project including bituminous overlay improvements for Irvin court, Irvin Circle, Isle Avenue, Ivy Court, and Jamaca Court, WHERAS, the total cost of the improvements is estimated to be $204,150.00 at completion-, and WHEREAS, the clerk has 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, The portion of the cost of such improvement to be paid by the city and other sources is hereby declared to be $149,172.00 and the portion of the cost of such improvement to be assessed against benefited property owners is $54,978.00. Assessments shall be payable in equal annual installments extending over a period of 5 years, the first of the installments to be payable on or before the first Monday in January, 2008, and shall bear interest at the rate of 5.75 percent per annum from the date of the adoption of the assessment resolution. The city clerk, with the assistance of the city engineer, has calculated the proper amount to be specially assessed for such improvement 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. A public hearing shall be held on the 11th day of October, 2007, at the Lake Elmo Fire Hall at 7:00 p.m. to pass upon such proposed assessment and at such time and place all persons owning property affected by such improvement will be given an opportunity to be heard with reference to such assessment. The city clerk is hereby directed to cause a notice of the hearing on the proposed assessment to be published once in the official newspaper at least two Resolution No.