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CITY OF LINO LAKES <br />RESOLUTION NO. 19-89 <br />RESOLUTION DECLARING COST TO BE ASSESSED AND ORDERING PREPARATION OF PROPOSED <br />ASSESSMENT FOR PHASE 2 OF ER I CKSONS SECOND ADDITION. <br />WHEREAS, costs have been determined for the improvement of Ericksons Second <br />Addition Phase 2, and the construction costs and expenses incurred in the <br />making of said improvement total $419,508 <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF LINO LAKES, MINNESOTA: <br />1. The portion of the cost of such improvement to be paid by the city is <br />hereby declared to be $-0- and the portion of the cost to be assessed <br />against benef ited property owners is declared to be $419,508. <br />2. Assessments shal I be payable in equal annual instal Iments extending <br />over a period of 15 years, the first of the installments to be payable <br />on or before the f first Monday in January, 1990, and shall bear <br />interest at the rate of 9 per cent per annum from the date of -the <br />adoption of the assessment resolution. <br />3. The city clerk, with the assistance of the city engineer (consulting <br />engineer) shal I forthwith calculate the proper amount to be special ly <br />assessed for such improvement against every assessable lot, piece or <br />parcel of Iand within the district affected, without regard to cash <br />valuation, as provided by law, and he shall file a copy of such <br />proposed assessment in his office for publ is inspection. <br />4. The clerk shat I upon the completion of such proposed assessment, <br />notify the council thereof. <br />Adopted by the Council this 10th day of April, 19 <br />) <br />Mari I yn-. Anderson, CI erk-Treasurer <br />enjami <br />son, Mayor <br />