HomeMy WebLinkAboutCity Council Resolution 2012-199CITY OF PLYMOUTH
RESOLUTION No. 2012-199
A RESOLUTION DECLARING COST TO BE ASSESSED, AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT FOR THE
REVERE LANE/6T" AVENUE/KILMER LANE
MILL AND OVERLAY PROJECT
CITY PROJECT NO. 12005
WHEREAS, estimated costs have been calculated for the Revere Lane/6th Avenue/Kilmer
Lane Mill and Overlay Project, including Revere Lane from State Highway 55 to approximately
994 feet north of State Highway 55, 6t1' Avenue from Revere Lane to Kilmer Lane and Kilmer
Lane from 6th Avenue to 13th Avenue and the estimated cost for such improvement is
$384,371.20, and the expenses incurred or to be incurred in the making of such improvement
amount to $96,092.55 so that the total cost of the improvement will be $480,463.75.
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 $364,886.18 and the portion of the cost to
be assessed against benefited property owners is declared to be $115,577.57.
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 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.
5. Resolution No. 2012-166 is hereby voided.
Resolution No. 2012-199
Page 2 of 2
Approved this 10th day of July, 2012.
STATE OF MINNESOTA)
COUNTY OF HENNEPIN) SS.
The undersigned, being the duly qualified and appointed City Clerk of the City of Plymouth,
Minnesota, certifies that I compared the foregoing resolution adopted at a meeting of the
Plymouth City Council on June 10, 2012 with the original thereof on file in my office, and the
same is a correct transcription thereof.
WITNESS my hand officially as such City Clerk and the Corporate seal of the City this
day of
City Clerk