HomeMy WebLinkAboutCity Council Resolution 2019-146
C ITY OF P LYMOUTH
R ESOLUTION N O. 2019-146
R ESOLUTION A DOPTING A SSESSMENTS FOR THE
C ANDLELIGHT T ERRACE S TREET R ECONSTRUCTION P ROJECT (ST199001)
WHEREAS, pursuant to proper notice duly given as required by law, the City
Council has met and heard and passed upon all objections to the proposed assessment
for the improvement of the streets east of CSAH 101, south of 30th Avenue, west of
Jewel Lane, and north of 25th Avenue excluding 125 feet of 27th Avenue immediately
west of Jewel Lane and 150 feet of Olive Lane immediately north of 25th Avenue by
reconstruction of streets with the installation of bituminous pavement, concrete curb
and gutter installation, water main replacement, storm sewer installation, and all
necessary appurtenances.
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PLYMOUTH, MINNESOTA that:
1. Such proposed assessment, a copy of which is attached hereto and made a
part hereof, is accepted and shall constitute the special assessment against
the lands named therein, and each tract of land therein included is hereby
found to be benefited by the proposed improvement in the amount of the
assessment levied against it.
2. Such assessments between $0 and $5,000 shall be payable in equal annual
installments extending over a period of 5 years, the first of the installments
to be payable on or before the first Monday in January, 2020, and shall bear
the interest rate of 3.33% per annum for a 5 year assessment period.
Therefore, the first installment shall be added interest on the entire
assessment from November 1, 2019 until December 31, 2020. To each
subsequent installment when due shall be added interest for one year on all
unpaid installments.
3. Such assessments between $5,001 and $10,000 shall be payable in equal
annual installments extending over a period of 10 years, the first of the
installments to be payable on or before the first Monday in January, 2020,
and shall bear the interest rate of 3.70% per annum for a 10 year
assessment period. Therefore, the first installment shall be added interest
on the entire assessment from November 1, 2019 until December 31, 2020.
To each subsequent installment when due shall be added interest for one
year on all unpaid installments.
4. Such assessments over $10,000 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 January, 2020, and shall bear
the interest rate of 4.08% per annum for a 15 year assessment period.
Therefore, the first installment shall be added interest on the entire
assessment from November 1, 2019 until December 31, 2020. To each
subsequent installment when due shall be added interest for one year on all
unpaid installments.
5. The owner of any property so assessed may, at any time prior to
certification of the assessment to Hennepin County, pay the whole of the
assessment on such property with interest accrued to the date of payment
to the City of Plymouth Finance Department, except that no interest shall be
charged if the entire assessment was paid by October 31, 2019 and the
property owner may at any time thereafter, pay the City of Plymouth
Finance Department the entire amount of the assessment remaining
unpaid, with interest accrued to December 31 of the year in which such
payment is made. Such payment must be made by November 15 or interest
will be charged through December 31 of the next succeeding year. The
owner of any property so assessed may also, until October 31, 2019, make a
partial payment of a least $100 to the City of Plymouth Finance Department.
The remaining unpaid balance will be certified as the new assessment
amount. The owner may also at any time prior to November 15, of any year,
pay the remaining unpaid principal balance with interest accrued to
November 15 of the year in which such prepayment is made.
6. The Clerk shall forthwith transmit a certified duplicate of this assessment to
Hennepin County to be extended on the property tax lists of the County.
Such assessments shall be collected and paid over in the same manner as
other municipal taxes.
The total cost of the improvement assessed by this resolution is $624,923.64.
APPROVED by the City Council on this 14th day of May, 2019.
STATE OF MINNESOTA)
COUNTY OF HENNEPIN) SS.
The undersigned, being the duly qualified and appointed City Clerk of the City of Plymouth,
Minnesota, certifies that I compared the foregoing resolution adopted at a meeting of the
Plymouth City Council on May 14, 2019 with the original thereof on file in my office, and the
same is a correct transcription thereof.
WITNESS my hand officially as such City Clerk and the Corporate seal of the City this
___________day of __________________, __________.
________________________________
City Clerk