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RESOLUTION 1992-27 <br />RESOLUTION DECLARING COST TO BE ASSESSED AND ORDERING PREPARATION <br />OF PROPOSED ASSESSMENT FOR THE HENNA AVENUE PUBLIC <br />IMPROVEMENT PROJECT <br />WHEREAS, a contract has been let for the improvement of Henna Avenue <br />North, from 170th Street North to 180th Street North (the north corporate <br />line of the City of Hugo, by the improvement of bituminous surfacing and <br />the bid price for such improvement is $134,952.13, and the expenses <br />incurred or to be incurred in the making osuch improvement amount to <br />$37,786.59 so that the total cost of the improvement will be $172.738.72. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF HUGO, <br />WASHINGTON COUNTY, MINNESOTA: <br />1. The portion of cost of such improvement to be paid by the City is <br />hereby declared to be $113,520.82, and the portion of the cost to be <br />assessed against benefited property owners is declared to be <br />$59,217.90. <br />2. Assessments shall be payable in equal annual installments extending <br />over a period of 15 years, the first of the installments to be payable <br />on or before the first Monday in January 1993, and shall bear interest <br />at the rate of 8% per annum from the date of the adoption of the <br />assessment resolution. <br />3. The City Clerk, with the assistance of the City Engineer, shall <br />forthwith calculate the proper amount to be specially assessed for <br />such improvement against every assessable lot, piece or parcel of land <br />within the district affected, without regard to cash valuation, as <br />provided by law, and he shall file a copy of such proposed assessment <br />in the office for public inspection. <br />4. The City Clerk shall upon completion of such proposed assessment, <br />notify the Council thereof. <br />Upon roll call the following members voted AYE: Barnes, Brunotte, Leroux, <br />Miron, Stoltzman <br />Members voting NAY: NONE <br />Whereupon said resolution was declared passed and adopted this 5th day of <br />October, 1992. <br />Walter Stoltzman, ayor <br />ATTEST: <br />Mary Creager, C'& Clerk <br />