CC RES 97-015 RESOLUTION DECLARING COST TO BE ASSESSED AND ORDERING PREPERATION OF PROPOSED ASSESSMENT

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• CITY OF ST. ANTHONY RESOLUTION 97-015 A RESOLUTION DECLARING COST TO BE ASSESSED AND ORDERING PREPARATION OF PROPOSED ASSESSMENT WHEREAS, costs have been determined for the improvement of(1) Roosevelt Street, between 35th Avenue NE and 37th Avenue NE; and, (2) 35th Avenue NE, between Stinson Boulevard and Harding Street, and the bid price for such improvement is $570,547.33 and the total cost of the improvement will be approximately $690,897.33. NOW, THEREFORE, BE IT RESOLVED, by the City Council of St. Anthony, Minnesota: (1) The portion of the cost of such improvement to be paid by the City is hereby declared to be $302,244.80 and the portion of the cost to be assessed against benefitted property owners is declared to be $162,723.38. (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 1998, and shall bear interest at the rate of 2 percent 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. Adopted this 14 day of Ta r , 1997. //��11 Mayor ATTEST: C_.4 City Clerk Reviewed for administration: ity ManaJer •