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CITY OF ST. ANTHONY <br />RESOLUTION 09-039 <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. Alley located immediately south of Croft Drive and west of Old Highway 8. <br />and the bid price for such an improvement is $79,387.00. The total cost of the <br />improvement with administrative fees, bond interest and bond fees will be <br />approximately $84,300.00. <br />NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of St. Anthony: <br />1. The entire cost of such improvement to be assessed against benefited property <br />owners is declared to be approximately $84,300.00. <br />2. Assessments shall be payable in equal annual installments extending over a period of <br />15 years, the first of the installments to be payable on or before the first Monday in <br />2010, and shall bear interest at the rate of 2 percent (2%) above the City's borrowing <br />rate at the time the bonds are issued. <br />3. The Consulting Engineer shall forthwith calculate the proper amount to be specially <br />assessed for such improvement against every assessable lot, piece or parcel of land <br />within the district affected, without regard to cash valuation, as provided by law, and <br />the City Clerk shall file a copy of such proposed assessment in the office for public <br />inspection. <br />4. The City Clerk shall upon the completion of such proposed assessment, notify the <br />Council thereof. <br />Adopted this day of 12009. <br />ATTEST: <br />Mayor <br />City Clerk <br />Reviewed for administration: <br />City Manager <br />KV0162609-039A c <br />