HomeMy WebLinkAboutCC RES 09-017 RESOLUTION DECLARING THE COST TO BE ASSESSED AND ORDERING PREPERATION OF PROPOSED ASSESSMENT Meeting Sheet
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104039
Box: 31
Folder: RES 2009
Document: CC RES 09-017 RESOLUTION DECLARING THE COST TO BE
ASSESSED AND ORDERING PREPERATION OF PROPOSED ASSESSMENT
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CITY OF ST. ANTHONY
RESOLUTION 09-017
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A RESOLUTION DECLARING THE COST TO BE ASSESSED ,
AND ORDERING PREPARATION OF PROPOSED ASSESSMENT
WHEREAS, costs have been determined for the improvement of:
1. Chandler Drive from County Road D to Foss Road.
2. Foss Road from Chandler Drive to City limits.
and the bid price for such an improvement is $1,866,868, and a additional
$176,000 for street lighting. The total cost of the improvement with administrative
fees, bond interest and bond fees will be approximately $2,700,000.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of St. Anthony:
1. The portion of the cost of such improvement to be paid by the City is hereby
declared to be approximately $2,100,000, and the portion of the cost to be
assessed against benefited property owners is declared to be approximately
O $600,000.
2. Assessments shall be payable in equal annual installments extending over a
period of 15 years, the first of the installments to be payable on or before the
first Monday in 2010, and shall bear interest at the rate of 2 percent (2%)
above the City's borrowing rate at the time the bonds are issued.
3. The Consulting Engineer shall forthwith calculate the proper amount to be
specially assessed for such improvement against every assessable lot, piece or
parcel of land within the district affected, without regard to cash valuation, as
provided by law, and the City Clerk shall file a copy of such proposed
assessment in the office for public inspection.
4. The City Clerk shall upon the completion of such proposed assessment, notify
the Council thereof.
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K.\01626-37\Admin\Resolutions\Resolution 09-017 doc
Adopted this 21'j"day of , 2009.
Mayor
ATTEST:
City Clerk
Reviewed for administration:
rty anager
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K.\01626-37\Admin\Resolutions\Resolutton 09-017 doc