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RESOLUTION NO. 88-34 <br />CITY OF LAKE ELMO <br />WASHINGTON COUNTY, MINNESOTA <br />RESOLUTION DECLARING COSTS TO BE ASSESSED AND <br />ORDERING PREPARATION OF REPORTS <br />WHEREAS, contracts have been let for the following improvements: <br />1988 Municipal State Aid Street Improvement: being for <br />reconstruction by grading, gravel base, bituminous surfacing and <br />right-of-way acquisition of 47th Street from Keats Avenue to Kimbro <br />Avenue; <br />Total cost of improvement is $135,086.64. <br />1988 Bituminous Overlay Project: being for bituminous overlay on the <br />following streets: <br />Hilltop Avenue (including some curb replacement); <br />36th Street, from Jamaca Ave. to Irwin Ave.; <br />37th Street, from Irwin Ave. to 200'+ east; <br />Legion Ave., from 30th St. to the south; <br />27th St., 28th St., Ironwood Trail & Irish Ave., <br />within Tablyn Park Addn.; <br />27th St., and 27th Court, within Tablyn Park, 2nd Addn; <br />Total cost of improvement is $86,630.00. <br />NOW, THEREFORE, BE IT RESOLVED, BY THE CITY COUNCIL OF <br />LAKE ELMO, MN: <br />1. The portion of the cost of said improvements to be paid by <br />the City, from its Municipal State Aid Account, is hereby declared to <br />be $127,341.32, and the portion of the cost to be assessed against <br />benefited property owners is hereby declared to be $7,745.32, for the <br />1988 Municipal State Aid Improvement; and, the portion of the cost to <br />be paid by the City is $-0-, and, the portion of the cost to be <br />assessed against benefited property owners is $86,630.00, for the 1.988 <br />Bituminous Overlay Project. <br />2. For the Municipal State Aid Improvement project, the <br />assessments shall be payable in equal annual installments extending <br />over a period of five years, and shall bear interest at the rate of nine <br />s (percent) per annum from the date of the adoption of the assessment <br />resolution. For the 1988 Bituminous Overlay Project, the assessments <br />shall be payable in equal installments extending over a period of five <br />years, and shall bear interest at the rate of nine % (percent) per <br />annum from the date of the adoption of the assessment resolution. <br />