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CITY OF ST.ANTHONY VILLAGE <br /> RESOLUTION 10-023 <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 by reconstruction or new construction of. <br /> 1. Street and Utility Reconstruction <br /> • Silver Lane from Silver Lake Road to 16th Avenue SW <br /> 2. Bituminous Mill and Overlay <br /> ■ Old Highway 8 from Highway 88 to 33`d Avenue NE <br /> ■ Highcrest Road from 33`d Avenue NE to 37"'Avenue NE <br /> 3. Sidewalk and Street Lighting Improvements <br /> ■ Silver Lane from Stinson Boulevard to 10h Avenue SW <br /> and the bid price for such an improvement is approximately$768,182.34 and a additional <br /> $203,380.00 for street lighting. The total cost of the improvement with administrative fees, <br /> bond interest and bond fees will be approximately$1,375,000. <br /> NOW,THEREFORE, BE IT RESOLVED,by the City Council of the City of St.Anthony,Minnesota: <br /> 1. The portion of the cost of such improvement to be paid by the City is hereby declared to <br /> be approximately$1,265,000 and the portion of the cost to be assessed against benefited <br /> property owners is declared to be approximately$110,000. <br /> 2. Assessments shall be payable in equal annual installments extending over a period of 15 <br /> years, the first of the installments to be payable on or before the first Monday in 2011, <br /> and shall bear interest at the rate of 2 percent(2%)above the City's borrowing rate at the <br /> 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 the <br /> 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 23`d day of February, 2010. <br /> ayor <br /> ATTEST: �) <br /> City Clerk <br /> Reviewed for administration: <br /> Assist t City Manager <br /> Z:\Council Meetings\2010\02232010\Resolution 10-xxx-Order Preparation of Assessments.doc <br />