HomeMy WebLinkAboutCity Council Resolution 2012-125CITY OF PLYMOUTH
RESOLUTION No. 2012-125
A RESOLUTION DECLARING COST TO BE ASSESSED AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT ROLL
2011 MILL AND OVERLAY AND WATERMAIN REPLACEMENT PROJECT
LANCASTER LANE
CITY PROJECT NO. 11010
WHEREAS, bids were received for the improvement of Lancaster Lane
from 36th Avenue to a point approximately 950 feet south of County Road 9,
by bituminous resurfacing of the street, replacement of concrete curb and
gutter, driveway entrance repair, repairs to utility strictures and all necessary
appurtenances, and the contract price for such improvement is $374,864.58.
Expenses incurred or to be incurred in the making of said improvement amount
is $56,463.17, so that the total cost of the improvement will be $431,327.75.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND
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 $274,048.02 and the portion of the cost
to be assessed against benefited property owners is declared to be
$157,279.73.
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,
2013, and shall bear the interest rate of 2.44% percent for a 5 year
term, 3.37% for a 10 year term, or 4.34% 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 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 this 24t1' day of April, 2012.