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<br />CITY OF ST. ANTHONY VILLAGE <br />STATE OF MINNESOTA <br /> <br />RESOLUTION 20-025 <br /> <br />A RESOLUTION DECLARING THE COST TO BE ASSESSED <br />AND ORDERING PREPARATION OF THE PROPOSED ASSESSMENTS <br />FOR THE 2020 STREET AND UTILITY IMPROVEMENTS <br /> <br />WHEREAS, costs have been determined for the improvement of: <br /> <br />2020 Street and Utility Improvement Project <br /> <br />• Street & Utility Reconstruction <br />o 32nd Avenue NE from Rankin Road to Croft Drive <br />o Croft Drive from 32nd Avenue NE to 31st Avenue NE <br />o Storm sewer connection on 31st Avenue NE from Croft Drive to Old <br />Highway 8. <br />o Silver Lake Terrace from Silver Lane to the cul-de-sac <br /> <br />Silver Lane Mill and Overlay <br /> <br />• Silver Lane from Stinson Boulevard to Silver Lake Road <br /> <br />and the bid price for such an improvement is approximately $2,430,797. The total cost of <br />the improvement with contingencies, engineering, legal, and administrative fees will be <br />approximately $2,955,900. <br /> <br />NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of St. Anthony Village that: <br /> <br />1. The portion of the cost of the proposed Street and Utility Improvement Project to be paid by the City <br />is hereby declared to be approximately $2,955,900 and the portion of the cost to be assessed against <br />benefited property owners is declared to be approximately $320,000. <br />2. Assessments shall be payable in equal annual installments extending over a period of 15 years, the <br />first of the installments to be payable on or before the first Monday in 2021, and shall bear interest at <br />the rate of 2 percent (2%) above the City’s borrowing rate at the time the bonds are issued. <br />3. The Consulting Engineer shall forthwith calculate the proper amount to be specially assessed for <br />such improvement against every assessable lot, piece, or parcel of land within the district affected, <br />without regard to cash valuation, as provided by law, and the City Clerk shall file a copy of such <br />proposed assessment in the office for public inspection. <br />4. The City Clerk shall, upon the completion of such proposed assessment, notify the Council thereof. <br /> <br />Adopted this 10th day of March, 2020. <br /> <br /> <br /> _____________________________ <br /> Randy Stille, Mayor <br />ATTEST:____________________________ <br /> Nicole Miller, City Clerk <br /> <br /> <br />Reviewed for administration: ______________________________ <br /> Mark Casey, City Manager <br /> <br />75