HomeMy WebLinkAboutCity Council Resolution 2008-286CITY OF PLYMOUTH
RESOLUTION NO. 2008-286
RESOLUTION DECLARING COST TO BE ASSESSED AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT ROLL
2008 STREET RECONSTRUCTION PROJECT
CITY PROJECT NO. 8101
WHEREAS, bids have been received for the improvement located east of Sycamore Lane
to, and including, Evergreen Lane from, and including, 26t1' Avenue to 28t1' Place,
excluding Medicine Lake Drive West and including 29th Avenue cul-de-sac east of
Medicine Lake Drive West, and 26th Avenue by reconstruction of streets with the
installation of bituminous pavement, concrete curb and gutter installation and repair,
storm sewer installation and repair, watermain replacement and all necessary
appurtenances, and the contract price for such improvement is $6,347,200 and the
expenses incurred or to be incurred in the making of said improvement amount is
$1,586,800 so that the total cost of the improvement will be $7,934,000.
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 $5,008,800 and the portion of the cost to be
assessed against benefited property owners is declared to be $2,925,200.
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, 2009, and shall bear the
interest rate of 4.21 % percent for a 5 year term, 4.91 % for a 10 year term, or
5.46% for a 15 year 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.
Adopted by the City Council on September 23, 2008.