HomeMy WebLinkAboutCC RES 10-023 RESOLUTION DECLARING THE COST TO BE ASSESSED AND ORDERING PREPERATION OF PROPOSED ASSESSMENT Meeting Sheet
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103940
Box: 31
Folder: RES 2010
Document: CC RES 10-023 RESOLUTION DECLARING THE COST TO BE
ASSESSED AND ORDERING PREPERATION OF PROPOSED ASSESSMENT
CITY OF ST.ANTHONY VILLAGE
RESOLUTION 10-023
A RESOLUTION DECLARING THE COST TO BE ASSESSED
AND ORDERING PREPARATION OF PROPOSED ASSESSMENT
WHEREAS, costs have been determined for the improvement by reconstruction or new construction of.
1. Street and Utility Reconstruction
• Silver Lane from Silver Lake Road to 16th Avenue SW
2. Bituminous Mill and Overlay
■ Old Highway 8 from Highway 88 to 33`d Avenue NE
■ Highcrest Road from 33`d Avenue NE to 37"'Avenue NE
3. Sidewalk and Street Lighting Improvements
■ Silver Lane from Stinson Boulevard to 10h Avenue SW
and the bid price for such an improvement is approximately$768,182.34 and a additional
$203,380.00 for street lighting. The total cost of the improvement with administrative fees,
bond interest and bond fees will be approximately$1,375,000.
NOW,THEREFORE, BE IT RESOLVED,by the City Council of the City of St.Anthony,Minnesota:
1. The portion of the cost of such improvement to be paid by the City is hereby declared to
be approximately$1,265,000 and the portion of the cost to be assessed against benefited
property owners is declared to be approximately$110,000.
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 2011,
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.
Adopted this 23`d day of February, 2010.
ayor
ATTEST: �)
City Clerk
Reviewed for administration:
Assist t City Manager
Z:\Council Meetings\2010\02232010\Resolution 10-xxx-Order Preparation of Assessments.doc