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RESOLUTION NO. 5261 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA DECLARING COSTS TO BE ASSESSED . AND ORDERING PREPARATION OF PROPOSED ASSESSMENT TO THOSE PROPERTY OWNERS AFFECTED BY THE RECONSTRUCTION OF OLD HIGHWAY 8 AND SETTING ASSESSMENT HEARING. WHEREAS. a contract has been let (costs have been determined) for the improvement of Old Highway 8 by Forest Lake Contracting and the contract (bid) price for such Improvement is $1,228,258.15, and of the bid price the City's expenses incurred or to be Incurred In the making of such impr~~ement amount to $130,511.64. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MOUNDS VIEW: 1. The portion of the cost of such improvement to be paid by the city is hereby declared to be $98,797.92 and the portion of the cost to be assessed against benefited property owners is declared to $31,613,72, and; 2, 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. 1999. and shall bear interest at the rate of seven (7) percent per annum from the date of the adoption of the assessment resolution, and: 3. The Clerk-Administrator, with the assistance of the city engineer (consulting engineer), shall forthwith calculate the proper amount to be specia!ly assessed for such improvement against every assessable lot, piece or parcel of land within the district affected, without regard to cash valuation. as provided by law. and he shall file a copy of such proposed assessment in his office for public inspection. 4. The clerk shall upon the completion 'of such pi oposed assessment, notify the council thereof. . ' 5. The a~sessment hearing for the proposed assessment shall be held on Monday. September 28, 1998. 7:05 p,m" at the Mounds View City Hall in the ;council chambers 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. 6. T.he Clerk-Administrator 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 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 to the owner of each parcel described in the assessment roll not less than two weeks prior to the hearings. 7. The owner of any property so assessed may, at any time plior to certification of the assessment to the county auditor. pay the whole of the assessme'nt on such property, with interest accrued to the date of payment, to the Finance Director-Treasurer, except that no interest shall be charged if the entire assessment is paid within 30 days from the adoption of the assessment. HelShe may at any time thereafter, pay to'the Finance Director-Treasurer the entire amount of t.he assessment remaining unpaid, with interest accrued to December 31 of the year in which such payment is made. Such payment must be made before November 15 or interest will be charged through December 31 of the succeeding year. Adopted by the council this 24th day of August, 1998. ATTEST: . . . Isl Duane McCarty Mayor Isl Mike Ulrich Acting Clerk-Administrator (Bulletin Sept. 2, 16, 1998)