HomeMy WebLinkAboutCity Council Resolution 2014-096CITY OF PLYMOUTH
RESOLUTION No. 2014-096
A RESOLUTION DECLARING COST TO BE ASSESSED AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT FOR THE 2014 CUL-DE-SAC
EDGE MILL AND OVERLAY PROJECT
CITY PROJECT N0. 14019
WHEREAS, estimated costs have been calculated for the 2014 Cul-de-sac Edge Mill and
Overlay Project, City Project No 14019, including the following streets:
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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!
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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 $29,993.93 and the portion of the cost to be
assessed against benefited property owners is declared to be Error!
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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, 2015, and shall bear the
interest rate of 2.78% percent for a 5 year term, 4.25% for a 10 year term or
4.95% 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 this 25th day of March, 2014.