CC RES 12-018 RESOLUTION DECLARING THE COST TO BE ASSESSED AND ORDERING PREPERATION OF THE PROPOSED ASSESSMENTS FOR THE 2012 STREET AN UTILITY IMPROVEMENTS

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CITY OF ST. ANTIMONY RESOLUTION 12-018 A RESOLUTION DECLARING THE COST TO BE ASSESSED AND ORDERING PREPARATION OF THE PROPOSED ASSESSMENTS FOR THE 2012 STREET AND UTILITY IMPROVEMENTS WHEREAS, costs have been determined for the improvement by reconstruction or new construction of: 1. Street and Utility Reconstruction ® Belden Drive from 36`h Avenue NE to 34'h Avenue NE Coolidge Street NE from 36'h Avenue NE to 34'h Avenue NE 35`h Avenue NE from Belden Drive to Harding Street 2. Coolidge/Harding Backyard Drainage Improvements 3. Macalaster Drive Sanitary Sewer Pipe Bursting 4. Lowry Avenue NE Drainage Improvements and the bid price for such an improvement is approximately $1,642,385.78. The total cost of the improvement with administrative fees,bond interest and bond fees will be approximately $2,155,050. NOW,THEREFORE, BE IT RESOLVED, by the City Council of the City of St. Anthony Village that: 1. The portion of the cost of the proposed Street and Utility Reconstruction improvement to be paid by the City is hereby declared to be approximately $1,530,900 and the portion of the cost to be assessed against benefited property owners is declared to be approximately $404,650. 2. The portion of the cost of the proposed Coolidge/Harding Backyard Drainage improvement to be paid by the City is hereby declared to be approximately $29,500 and the portion of the cost to be assessed against benefited property owners is declared to be approximately $12,500. 3. The portion of the cost of the proposed Macalaster Dr. Sanitary Sewer Pipe Bursting improvement to be paid by the City is hereby declared to be approximately $98,200. 4. The portion of the cost of the proposed Lowry Avenue NE Drainage improvement to be paid by the City is hereby declared to be approximately $22,200 and the portion of the cost to be assessed against benefited property owner is declared to be approximately $57,100. 5. 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 2013, and shall bear interest at the rate of 2 percent(2%)above the City's borrowing rate at the time the bonds are issued. 6. 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. 7. The City Clerk shall upon the completion of such proposed assessment, notify the Council thereof.