CC RES 04-014 RESOLUTION DECLARING THE COST TO BE ASSESSED AND ORDERING PREPERATION OF PROPOSED ASSESSMENT

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• CITY OF ST. ANTHONY RESOLUTION 04-014 A RESOLUTION DECLARING THE COST TO BE ASSESSED AND ORDERING PREPARATION OF PROPOSED ASSESSMENT WHEREAS, costs have been determined for the improvement of: 1. Belden Drive, between 32nd Avenue and 33rd Avenue 2. Hilldale Avenue, between Belden Drive and Silver Lake Road 3. 32nd Avenue,between Belden Drive and Silver Lake Road 4. Townview Avenue, between Wilson Street and Silver Lake Road and the bid price for such an improvement is $1,288,929.58, and the total cost of the improvement will be approximately$1,700,000. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of St. Anthony: 1. The portion of the cost of such improvement to be paid by the City is hereby declared to be $1,310,000, and the portion of the cost to be assessed against benefited property owners is declared to be $390,000. • 2. Assessments shall be payable in equal annual installments extending over a period of 15 years, the first of the installments to be payable on or before the first Monday in 2005, and shall bear interest at the rate of 2 percent (2%) above the City's borrowing rate at the time the bonds are issued. 3. 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 the City Clerk shall file a copy of such proposed assessment in the office for public inspection. 4. The City Clerk shall upon the completion of such proposed assessment, notify the Council thereof. • F:\WPWIN\1065-84\Resolutions\Resolution 04-014(Cost and Assessment)122903.doc