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CITY OF ST. ANTHONY <br /> RESOLUTION 94-063 <br /> A RESOLUTION DECLARING COST TO BE ASSESSED <br /> AND ORDERING PREPARATION OF PROPOSED ASSESSMENT <br /> WHEREAS, costs have been determined for the improvement of(1) Crestview Drive, from 29th <br /> Avenue N.E. to 31st Avenue N.E.; (2) Armour Terrace, from Silver Lake Road <br /> to Crestview Drive; (3) Bell Lane, from Armour Terrace to Crestview Drive; and, <br /> (4) East Gate Road, from Crestview Drive to Rankin Road, and the bid price for <br /> such improvement is $659,709.90, and the total cost of the improvement will be <br /> approximately $825,000. <br /> NOW, THEREFORE, BE IT RESOLVED, by the City Council of St. Anthony, Minnesota: <br /> (1) The portion of the cost of such improvement to be paid by the City is hereby <br /> declared to be $588,931 and the portion of the cost to be assessed against <br /> benefitted property owners is declared to be $235,790. <br /> (2) Assessments shall be payable in equal annual installments extending over a period <br /> of 15 years, the first of the installments to be payable on or before the first <br /> Monday in 1996, and shall bear interest at the rate of 2 per cent per above the <br /> City's borrowing rate at the time the bonds are issued. <br /> (3) The Consulting Engineer shall forthwith calculate the proper amount to be <br /> specially assessed for such improvement against every assessable lot, piece or <br /> parcel of land within the district affected, without regard to cash valuation, as <br /> provided by law, and the City Clerk shall file a copy of such proposed assessment <br /> in the office for public inspection. <br /> (4) The City Clerk shall upon the completion of such proposed assessment, notify the <br /> Council thereof. <br /> Adopted this day of , 1994. <br /> Mayor <br /> ATTEST: <br /> City Clerk <br /> Reviewed for administration: <br /> City Manager <br />