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27 <br />CITY OF ST. ANTHONY <br />RESOLUTION 97 -OOE DRAFT <br />A RESOLUTION DECLARING COST TO BE ASSESS <br />AND ORDERING PREPARATION OF PROPOSED ASSESOIVIL .. <br />WHEREAS, costs have been determined for the improvement of (1) Roosevelt Street, between <br />35th Avenue NE and 37th Avenue NE; and, (2) 35th Avenue NE, between Stinson <br />Boulevard and Harding Street, and the bid price for such improvement is $ <br />, and the total cost of the improvement will be approximately <br />$636,852.64. <br />NOW, THEREFORE, BE IT RESOLVED, by the City Council of St. Anthony, Minnesota: <br />(1) The portion of the cost of such improvement to be paid by the City is hereby <br />declared to be $372,321.06 and the portion of the cost to be assessed against <br />benefitted property owners is declared to be $158,047.30. <br />(2) Assessments shall be payable in equal annual installments extending over a period <br />of 15 years, the first of the installments to be payable on or before the first <br />Monday in 1998, and shall bear interest at the rate of 2 percent above the City's <br />borrowing rate at the time the bonds are issued. <br />(3) The Consulting Engineer shall forthwith calculate the proper amount to be <br />specially assessed for such improvement against every assessable lot, piece or <br />parcel of land within the district affected, without regard to cash valuation, as <br />provided by law, and the City Clerk shall file a copy of such proposed assessment <br />in the office for public inspection. <br />(4) The City Clerk shall upon the completion of such proposed assessment, notify the <br />Council thereof. <br />Adopted this day of , 1997. <br />ATTEST: <br />City Clerk <br />Reviewed for administration: <br />Mayor <br />City Manager <br />