HomeMy WebLinkAboutCity Council Resolution 2012-145CITY OF PLYMOUTH
RESOLUTION No. 2012-145
A RESOLUTION DECLARING COST TO BE ASSESSED, AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT FOR THE
KINGSVIEW HEIGHTS EDGE MILL AND OVERLAY PROJECT
CITY PROJECT NO. 12002
WHEREAS, estimated costs have been calculated for the Kingsview Heights Edge Mill
and Overlay Project, City Project No 12002 including the streets located from Fernbrook Lane to
and including Minnesota Lane from Schmidt Lake Road to Rockford Road, including 481h
Avenue, west of Minnesota Lane but excluding 44th Place west of Juneau Lane, and including
the area of Polaris Lane to Minnesota Lane from 41st Avenue to 44th Avenue, and the estimated
cost for such improvement is $1,538,000, and the expenses incurred or to be incurred in the
making of such improvement amount to $210,000 so that the total cost of the improvement will
be $1,778,000.
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 $1,093,000 and the portion of the cost to be
assessed against benefited property owners is declared to be $685,000.
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 or 3.37% for a 10 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 8th day of May, 2012.