HomeMy WebLinkAboutCity Council Resolution 2013-111CITY OF PLYMOUTH
RESOLUTION No. 2013-111
A RESOLUTION DECLARING COST TO BE ASSESSED, AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT FOR THE
DEERWOOD GLEN Et SWAN LAKE EDGE MILL AND OVERLAY PROJECT
CITY PROJECT NO. 13004
WHEREAS, estimated costs have been calculated for the Deerwood Glen & Swan Lake
Edge Mill and Overlay Project, City Project No 13004 including the streets south of Schmidt
Lake Road, west of Nathan Lane, east of Zachary Lane, and north of and including 45th Ave.,
excluding Saratoga Lane off of Schmidt Lake Road, 49th Ave. off of Saratoga Lane, and Trenton
Lane off of 49th Ave., and including the streets south of Schmidt Lake Road, west of Larch Lane,
east of Northwest Blvd. and north of Rockford Road, excluding Rosewood Lane off of Schmidt
Lake Road., and the estimated cost for such improvement is Error! Reference source not
found., and the expenses incurred or to be incurred in the making of such improvement amount
to Error! Reference source not found. so that the total cost of the improvement will be Error!
Reference source not found..
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF
THE CITY OF PLYMOUTH, MINNESOTA:
1. The portion of the cost of such improvement to be paid by the City of
Plymouth is hereby declared to be $1,670,893.43 and the portion of the cost to
be assessed against benefited property owners is declared to be Error!
Reference source not found.
2. Assessments shall be payable in equal annual installments extending over a
period of either 5 years, 10 years, or 15 years the first of the installments to be
payable on or before the first Monday in January, 2014, and shall bear the
interest rate of 2.34% percent for a 5 year term, 2.67% for a 10 year term, or
3.69% for a 15 year term per annum from the date of the adoption of the
assessment resolution.
3. The City Cleric, with the assistance of the City 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 the law, and shall file a copy
of such proposed assessment in the office for public inspection.
4. The Cleric shall upon completion of such proposed assessment notify the City
Council thereof.
Approved this 23rd day of April, 2013.