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CITY OF ST. ANTHONY VILLAGE <br /> RESOLUTION 11-014 <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. <br /> f:1. Street and Utility Reconstruction <br /> ■ Belden Drive from 37th Avenue NE to 36th Avenue NE <br /> ■ Coolidge Street NE from 37th Avenue NE to 30h Avenue NE <br /> ■ Harding Street NE from 37th Avenue NE to 36th Avenue NE <br /> ■ Edward Street NE from 37th Avenue NE to 36th Avenue NE <br /> 2. Concrete Sidewalk Construction <br /> ■ 39th Avenue NE from Macalaster Drive to Silver Lake Road <br /> and the bid price for such an improvement is approximately$1,379,353.69. The total cost of <br /> the improvement with administrative fees,bond interest and bond fees will be approximately <br /> $1,940,000. <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$1,551,000 and the portion of the cost to be assessed against benefited <br /> property owners is declared to be approximately$389,000. <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 2012, <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 11th day of January,2011. <br /> N <br /> 4ayor <br /> ATTEST: _ <br /> City Clerk <br /> Reviewed for administration: <br /> 111L,— <br /> 'City Manager <br />