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CITY OF ST, ANTHONY <br />RESOLUTION 06-013 <br />A RESOLUTION DECLARING THE COST TO BE ASSESSED <br />AND ORDERING PREPARATION OF PROPOSED ASSESSMENT <br />WHEREAS, costs have been determined for the improvement of. - <br />1 . <br />f: <br />1. 30th Avenue NE from Stinson Boulevard to Wilson Street <br />2. Murray Avenue <br />3. Roosevelt Street NE from St. Anthony Boulevard to 30th Avenue NE <br />4. Coolidge Street from St. Anthony Boulevard to 29th Avenue NE <br />5. Alley south of Murray from Wilson Street to Roosevelt Street <br />and the bid price for such an improvement is $1,473,035.77, and the total cost of <br />the improvement will be approximately $2,000,000. <br />NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of St. Anthony: <br />1. The portion of the. cost of such improvement to be paid by the City is hereby <br />declared to be approximately $1,600,000, and the portion of the cost to be <br />assessed against benefited property owners is declared to be approximately <br />$400,000. <br />2. Assessments shall be payable in equal annual 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 2007, 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 />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 <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 />K.•101626-06t4dminTesolutionsTES 06-013 - Cost and Assessment - 010406.doc <br />.24 <br />