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S:\1Council Meetings\2025\03252025\Road Improvements and Prep Assessments\Resolution 25-023.docx <br />the Street and Utility Reconstruction Project and a period of 10 years for the Mill and Overlay <br />Project, the first of the installments to be payable on or before the first Monday in 2026, and shall <br />bear interest at the rate of 2 percent (2%) above the City’s borrowing rate at the time the bonds <br />are issued. <br /> <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 <br />affected, without regard to cash valuation, as provided by law, and the City Clerk shall file a copy <br />of such proposed assessment in the office for public inspection. <br /> <br />4.) The City Clerk shall, upon the completion of such proposed assessment, notify the Council <br />thereof. <br /> <br />Adopted this 25th day of March, 2025. <br /> <br /> <br /> _____________________________ <br /> Wendy Webster, Mayor <br />ATTEST:____________________________ <br /> City Clerk <br /> <br /> <br />Reviewed for administration: ______________________________ <br /> Charlie Yunker, City Manager <br />80