HomeMy WebLinkAboutCC RES 11-014 RESOLUTION DECLARING THE COST TO BE ASSESSED AND ORDERING PREPERATION OF PROPOSED ASSESSMENT Meeting Sheet
IIIIII VIII I II VIII VIII IIII IIII i
II III II
103858
Box: 31
Folder: RES 2011
Document: CC RES 11-014 RESOLUTION DECLARING THE COST TO BE
ASSESSED AND ORDERING PREPERATION OF PROPOSED ASSESSMENT
CITY OF ST. ANTHONY VILLAGE
RESOLUTION 11-014
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.
f:1. Street and Utility Reconstruction
■ Belden Drive from 37th Avenue NE to 36th Avenue NE
■ Coolidge Street NE from 37th Avenue NE to 30h Avenue NE
■ Harding Street NE from 37th Avenue NE to 36th Avenue NE
■ Edward Street NE from 37th Avenue NE to 36th Avenue NE
2. Concrete Sidewalk Construction
■ 39th Avenue NE from Macalaster Drive to Silver Lake Road
and the bid price for such an improvement is approximately$1,379,353.69. The total cost of
the improvement with administrative fees,bond interest and bond fees will be approximately
$1,940,000.
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$1,551,000 and the portion of the cost to be assessed against benefited
property owners is declared to be approximately$389,000.
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 2012,
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 11th day of January,2011.
N
4ayor
ATTEST: _
City Clerk
Reviewed for administration:
111L,—
'City Manager