HomeMy WebLinkAboutCity Council Resolution 2020-336
C ITY OF P LYMOUTH
R ESOLUTION N O. 2020-336
R ESOLUTION D ECLARING C OST TO BE A SSESSED, AND O RDERING P REPARATION OF
P ROPOSED A SSESSMENT FOR THE 2021 S TREET R ECONSTRUCTION P ROJECT
(ST219001)
WHEREAS, estimated costs have been calculated for the 2021 Street
Reconstruction Project, City Project No. ST219001 including Garland Lane north of
County Road 6, Fountain Lane north of County Road 6, 17th Avenue between Garland
Lane and Fountain Lane, Weston Lane north of County Road 6, and the streets south of
County Road 6, west of Vicksburg Lane, north of and including 13th Avenue, and east of
and including Black Oaks Lane, and the estimated cost for such improvement is
$4,930,000.00, and the expenses incurred or to be incurred in the making of such
improvement amount to $670,000.00 so that the total cost of the improvement will be
$5,600,000.00.
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 $4,260,000.00 and the portion of the cost to be
assessed against benefited property owners is declared to be $1,340,000.00.
2. Assessments shall be payable in equal annual installments extending over a
period of either 5 years, 10 years, or 15 years with the first of the installments to be
payable on or before the first Monday in January, 2022, and shall bear the interest rate
of 1.72% percent for a 5 year term, 2.23% for a 10 year term, or 2.51% for a 15 year
term per annum from the date of the adoption of the assessment resolution.
3. The City Clerk, 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 Clerk shall upon completion of such proposed assessment notify the
City Council thereof.
APPROVED by the City Council on this 8th day of December, 2020.