HomeMy WebLinkAboutCity Council Resolution 2014-118CITY OF PLYMOUTH
RESOLUTION No. 2014-118
A RESOLUTION DECLARING COST TO BE ASSESSED, AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT FOR THE
PARKERS LAKE NORTH EDGE MILL AND OVERLAY PROJECT (14015)
WHEREAS, estimated costs have been calculated for the Parkers Lake North Edge Mill and
Overlay Project, City Project No 14015 including the streets Error! Reference source not found., and 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! Reference source
not found. so that the total cost of the improvement will be Error! Reference source not found..
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 $503,682.18 and the portion of the cost to be assessed
against benefited property owners is declared to be Error! Reference source
not found..
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, 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 22nd day of April, 2014.