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DRAFT <br />(Revised Resolution will be presented to Council after January 7"' Bid Opening) <br />CITY OF ST. ANTHONY <br />RESOLUTION 05-016 <br />A RESOLUTION DECLARING TIE COST TO BE ASSESSED <br />AND ORDERING PREPARATION OF PROPOSFII ASSFSSlii ENT <br />WHEREAS, costs have been determined for the improvement of: <br />1. St. Anthony Road <br />2. Roosevelt Street from 31" Avenue to 33`1 Avenue <br />3. Edwards Street :from 31" Avenue to 32°d Avenue <br />4. Edwards Street fironu St. Anthony Road to 33"' Avenue <br />5. 31" Avenue Prom Stinson Boulevard to Wilson Street <br />6. Roosevelt Col.rrt <br />and the bid price for such an improvement is $ and the total cost of <br />the improvement will be approximately $1.,980,000. <br />NOW, THERE FORTE, BE IT RESOLVED, by the City Council of the City of St. Anthony: <br />The portion ofthe cost of such improvement to be paid. by the City is hereby <br />declared to be $1,590,000, and the portion of the cost to be assessed against <br />benefited property owners is declared to be $390,000. <br />Assessments shall be payable in equal armual installments extending over a <br />period of 15 years, the first of the installments to be payable on or before the <br />first Monday in 2006, and shall bear interest at the rate of 2 percent (2%) <br />above the City's borrowing rate at the time the bonds are issued. <br />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 <br />assessment in the office for public inspection. <br />4. The City Clerk shall upon the completion of such proposed assessment, notify <br />the Council thereof. <br />1, 1Cbundl lk,lvi ,110111200ARGS 03 -016 -Cont 11,11 &11111-1 - 122904 do, <br />