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. . . RESOLUTION NO. 6102 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA DECLARING COST TO BE ASSESSED AND ORDERING PREPARATION OF PROPOSED ASSESSMENT FOR THE COUNTY ROAD H2 STREET IMPROVEMENT PROJECT WHEREAS, a contract has been let and costs have been determined for the County Road H2 Street Improvement Project from County Road 10 to the west City limits; and WHEREAS, the estimated contract bid for such improvements, excluding change orders for off site improvements, amounts to $1,216,884.46, and the expenses incurred or to be incurred in the making of such improvements is estimated to amount to $317,858.16 so that the total estimated cost of the improvement, excluding change orders, is $1,534,742.62. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Mounds View, Ramsey County, Minnesota as follows: 1 . The estimated portion of the cost of such improvement to be paid by the City is hereby declared to be $1,240,071.00 and the portion of the cost to be assessed against benefited property owners is declared to be $294,671.62. 2. Assessments shall be payable in equal annual installments extending over a period of ten (10) years, the first of the installments to be payable on or before the first Monday in January, 2004, and shall bear interest at the rate of 4.5 percent per annum from the date of the adoption of the assessment resolution. 3. The City Administrator, with the assistance of the consulting engineer, shall forthwith calculate the proper amount to be specially 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 shall file a copy of such proposed assessment at City Hall for public inspection.