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55 <br /> CITY OF ST. ANTHONY <br /> RESOLUTION 04-033 <br /> A RESOLUTION DECLARING THE COST TO BE ASSESSED <br /> AND ORDERING PREPARATION OF PROPOSED ASSESSMENT <br /> WHEREAS, costs have been determined for the improvement of 39th Avenue from Stinson <br /> Boulevard to Silver Lake Road, and the total cost of the improvement will be <br /> approximately$2,000,000. <br /> NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of St. Anthony: <br /> 1. The portion of the cost of such improvement to be paid by the City is hereby <br /> declared to be $775,000, and the portion of the cost to be assessed against <br /> benefited property owners is declared to be $1,225,000. <br /> 2. Assessments shall be payable in equal annual installments extending over a <br /> period of 15 years, the first of the installments to be payable on or before the <br /> first Monday in 2005, and shall bear interest at the rate of 2 percent(2%) <br /> above the 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 <br /> assessment in the office for public inspection. <br /> 4. The City Clerk shall upon the completion of such proposed assessment,notify <br /> the Council thereof. <br /> Adopted this day of 32004. <br /> Mayor <br /> ATTEST: <br /> City Clerk <br /> Reviewed for administration: <br /> City Manager <br /> F:\WPWIM1065-85\Resolutions\Resolution 04-014(Cost and Assessment)122903.doc <br />