CC RES 06-013 RESOLUTION DECLARING THE COST TO BE ASSESSED AND ORDERING PREPERATION OF PROPOSED ASSESSMENT

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0.t CITY OF ST.ANTHONY RESOLUTION 06-013 A RESOLUTION DECLARING THE COST TO BE ASSESSED AND ORDERING PREPARATION OF PROPOSED ASSESSMENT WHEREAS, costs have been determined for the improvement of: 1. 30th Avenue NE from Stinson Boulevard to Wilson Street 2. Murray Avenue 3. Roosevelt Street NE from St. Anthony Boulevard to 30th Avenue NE 4. Coolidge Street from St. Anthony Boulevard to 29th Avenue NE 5. Alley south of Murray from Wilson Street to Roosevelt Street and the bid price for such an improvement is $1,473,035.77, and the total cost of the improvement will be approximately$2,000,000. 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 approximately$1,600,000, and the portion of the cost to be assessed against benefited property owners is declared to be approximately $400,000. 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 2007, 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. O K-101626-06L1dminV?aolutionsVZES 06-013-Cost and Assessment-010406.doe