HomeMy WebLinkAboutCity Council Resolution 2007-408CITY OF PLYMOUTH
RESOLUTION NO. 2007-408
RESOLUTION DECLARING COST TO BE ASSESSED AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT ROLL
2007 STREET RECONSTRUCTION PROJECT
CITY PROJECT NO. 7101
WHEREAS, bids have been received for the improvement of located west of County
Road 101 to, and including, Queensland Lane, from the Luce Line Trail to 6t1' Avenue,
including 2"a Avenue and -1 Avenue west of Queensland Lane, and Narcissus Lane north
of 6th Avenue, but excluding 6t1' Avenue east of Queensland Lane by reconstruction of
streets with the installation of bituminous pavement, concrete curb and gutter installation
and repair, storm sewer installation and repair, and all necessary appurtenances, and the
contract price for such improvement is $2,935,000 and the expenses incurred or to be
incurred in the making of said improvement amount is $685,000 so that the total cost of
the improvement will be $3,620,000.
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 $2,152,800 and the portion of the cost to be
assessed against benefited property owners is declared to be $1,467,200.
2. Assessments shall be payable in equal annual installments extending over a
period of either 5, 10 or 15 years, the first of the installments to be payable on
or before the first Monday in January, 2007, and shall bear the interest rate of
5.0% for a 5 year term, 5.2% for a 10 year term or 5.5% 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.
Adopted by the City Council on September 25, 2007.