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WHEREAS, the estimated cost for such improvements based on the feasibility <br />report, excluding bid alternate No. 2 (Lakeside Parking Lot ), amounts to $2,431,600.00. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of <br />Mounds View, Ramsey County, Minnesota as follows: <br /> <br />1. That a date to hold the assessment hearing for the 2003 Street <br />Improvement Project is hereby established as May 24, 2004 at 7:00 p.m. <br /> <br />2. That Staff is hereby directed to cause to be published at least once in the <br />New Brighton Bulletin, notification of said hearing. Such publication shall <br />be published no less than two weeks prior to such a meeting of the City <br />Council, as required by law. <br /> <br />3. That Staff is hereby directed to mail notification to the owner of each <br />parcel described in the assessment role. The owners are defined as those <br />shown to be such on the records of the County Auditor. Such publication <br />and mailing shall be sent no less than two weeks prior to such a meeting <br />of the City Council, as required by law. <br /> <br />4. The estimated portion of the cost of such improvement to be paid by the <br />City based on the feasibility report is hereby declared to be $1,382,401.61 <br />and the portion of the cost to be assessed against benefited property <br />owners is declared to be $614,048.39. <br /> <br />5. Assessments shall be payable in equal annual installments extending over <br />a period of ten (10) years, the first of the installments to be payable on or <br />before the first Monday in January, 2005, and shall bear interest at the <br />rate of 5.0 percent per annum from the date of the adoption of the <br />assessment resolution. <br /> <br />6. The City, with the assistance of the consulting engineer, shall forthwith <br />calculate the proper amount to be specially assessed for such <br />improvement against every assessable lot, piece or parcel of land within <br />the district affected, without regard to cash valuation, as provided by law, <br />and shall file a copy of such proposed assessment at City Hall for public <br />inspection. <br /> <br />Adopted this 26th day of April 2004. <br /> <br /> ______________________________ <br /> Jerry Linke, Mayor <br /> <br />ATTEST: <br /> _______________________________ <br /> Kurt Ulrich <br />City Administrator <br />(SEAL)