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CITY OF LAKE ELMO <br />WASHINGTON COUNTY, MINNESOTA <br />RESOLUTION NO. 2001 -069 <br />RESOLUTION DECLARING COST TO BE ASSESSED, AND ORDERING <br />PREPARATION OF PROPOSED ASSESSMENT FOR 15 H STREET <br />WHEREAS, a contract has been let for the improvement of 15t" Street between <br />CSAH 13 and Lake Elmo Park Reserve and the contract price for such improvement is <br />$214,657.25 and the expenses incurred or to be incurred in the making of such <br />improvement amount to $50,732.00 so that the total cost of the improvement will be <br />$265,390.00. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF LADE <br />ELMO, MINNESOTA: <br />1. The portion of the cost of such improvement to be paid by the City is hereby <br />declared to be $122,988.00 and the portion of the cost to be assessed against <br />benefited property owners is declared to be $140,795.00. <br />2. Assessments shall be payable in equal annual installments extending over a <br />period of five years, the first of the installments to be payable on or before the <br />first Monday in January, 2002, and shall bear the interest at the rate of 7.0 <br />percent per annum from the date of the adoption of the assessment resolution. <br />3. The City Clerk, with the assistance of the City Engineer, shall forthwith <br />calculate the proper amount to be specially assessed for such improvement <br />against every assessable lot, -piece or parcel of land within the district affected, <br />without regard to cash valuation, as provided by law, and she shall file a copy <br />of such proposed assessment in her office for public inspection. <br />4. The Clerk shall upon the completion of such proposed assessment, notify the <br />Council thereof. <br />ADOPTED, by the Lake Elmo City Council on the I Ith day of September, 2001. <br />Lee Hunt <br />Mayor <br />ATTEST: <br />if <br />Mazy Kuc ner .1 <br />City Adminis ator <br />