CC RES 99-014 A RESOLUTION DECLARING COST TO BE ASSESSED AND ORDERING PREPARATION OF PROPOSED ASSESSMENT

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• CITY OF ST. ANTHONY RESOLUTION 99-014 A RESOLUTION DECLARING COST TO BE ASSESSED AND ORDERING PREPARATION OF PROPOSED ASSESSMENT WHEREAS, costs have been determined for the improvement of(1) Wilson Street, 27`h Avenue NE to 29`h Avenue NE; (2) Pahl Avenue, Wilson Street to Coolidge Street; (3) Alley: Wilson Street to Coolidge Street (south of Murray Avenue); (4) Alley: Wilson Street to Coolidge Street (south of Pahl Avenue); and, (5) Alley, Wilson Street to Coolidge Street (south of St. Anthony Boulevard) and the bid price for such improvement is $886,231.71, and the total cost of the improvement will be approximately $1,130,000. 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 $1,121,715.70 and the portion of the cost to be assessed against benefitted property owners is declared to be $82,848.29. • (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 2000, and shall bear interest at the rate of 2 per cent 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 day of Sd vt uLO.r�/ , 1999. Mayor ATTEST: CityClerk • Reviewed for administration: Aid City Ma ger