HomeMy WebLinkAboutCity Council Resolution 2020-089
C ITY OF P LYMOUTH
R ESOLUTION N O. 2020-089
R ESOLUTION TO A DOPT A SSESSMENTS FOR THE
V ICKSBURG L ANE AND F ERNDALE R OAD P AVEMENT R EHABILITATION P ROJECT (ST199005)
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 Vicksburg
Lane North from State Highway 55 to County State Aid Highway 6, Ferndale Road North from County
State Aid Highway 6 to Wayzata Boulevard, 32nd Avenue North from Vicksburg Lane North to
Ranchview Lane North, Ranchview Lane North from State Highway 55 to Medina Road, and 31st Avenue
North east of Ranchview Lane North by mill and overlay of bituminous pavement, reclamation of
bituminous pavement, reconstruction of bituminous pavement, trail improvements, replacement of
concrete curb and gutter, water repairs, sewer repairs, and all necessary appurtenances.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA:
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 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, 2021, and shall bear the interest rate of 2.67% per annum for a 5 year
assessment period. Therefore, the first installment shall be added interest on the entire
assessment from November 1, 2020 until December 31, 2021. 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, 2021, and shall bear the interest rate of 3.00% per annum for a 10 year
assessment period. Therefore, the first installment shall be added interest on the entire
assessment from November 1, 2020 until December 31, 2021. 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, 2021, and shall bear the interest rate of 3.23% per annum for a 15 year assessment
period. Therefore, the first installment shall be added interest on the entire assessment from
November 1, 2020 until December 31, 2021. 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, 2020 and the property owner may
at any time thereafter, pay the City of Plymouth Finance Division 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, 2020, make a partial payment of a least $100 to the City of Plymouth
Finance Division. 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 $443,697.74.
APPROVED by the City Council on this 10th day of March, 2020.