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CITY OF ST.ANTHONY <br /> • RESOLUTION 09-039 <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: <br /> 1. Alley located immediately south of Croft Drive and west of Old Highway 8. <br /> and the bid price for such an improvement is $79,387.00. The total cost of the <br /> improvement with administrative fees,bond interest and bond fees will be <br /> approximately$84,300.00. <br /> NOW,THEREFORE,BE IT RESOLVED,by the City Council of the City of St. Anthony: <br /> 1. The entire cost of such improvement to be assessed against benefited property <br /> owners is declared to be approximately$84,300.00. <br /> 2. Assessments shall be payable in equal annual installments extending over a period of <br /> 15 years, the first of the installments to be payable on or before the first Monday in <br /> 2010, and shall bear interest at the rate of 2 percent(2%) above the City's borrowing <br /> rate at the time the bonds are issued. <br /> • 3. The Consulting Engineer shall forthwith calculate the proper amount to be specially <br /> assessed for such improvement against every assessable lot, piece or parcel of land <br /> within the district affected,without regard to cash valuation, as provided by law,and <br /> the City Clerk shall file a copy of such proposed assessment in the office for public <br /> inspection. <br /> 4. The City Clerk shall upon the completion of such proposed assessment,notify the <br /> Council thereof. <br /> Adopted this,1' day of , 2009. <br /> Ma or <br /> ATTEST: 4 <br /> City Clerk <br /> If <br /> Reviewed for administration: ''`-- <br /> • ity M ager <br /> K:\01626-42\Admin\Resolutions\Resolution 09-039.doc <br />