HomeMy WebLinkAboutCity Council Resolution 2012-225CITY OF PLYMOUTH
RESOLUTION No. 2012-225
ADOPTING ASSESSMENTS
REVERE LANE/6T" AVENUE/KILMER LANE
MILL AND OVERLAY PROJECT
CITY PROJECT NO. 12005
WHEREAS, pursuant to proper notice duly given as required by law, the Council
has met and heard and passed upon all objections to the proposed assessment for the
improvement of Revere Lane, 6t1' Avenue and Kilmer Lane by the milling and overlaying
of bituminous streets, concrete curb and gutter repair, storm sewer stricture repair,
pedestrian curb ramps as needed, traffic signal loop detectors as needed, and all necessary
appurtenances.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY
COUNCIL OF THE CITY OF PLYMOUTH, MINNESOTA:
1. Such proposed assessment, a copy of which is attached hereto and made a
part hereof, is hereby accepted and shall constitute the special assessment
against the lands named therein, and each tract of land therein included is
hereby found to be benefited by the proposed improvement in the amount
of the assessment levied against it.
2. Such assessments between $0 and $5,000 shall be payable in equal annual
installments extending over a period of 5 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% per annum for a 5 year assessment period
from the date of adoption of this assessment resolution. To the first
installment shall be added interest on the entire assessment from the date of
this resolution until December 31, 2013. To each subsequent installment
when due shall be added interest for one year on all unpaid installments.
3. Such assessments between $5,001 and $10,000 shall be payable in equal
annual installments extending over a period of 10 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 3.37% per annum for a 10 year
assessment period from the date of adoption of this assessment resolution.
To the first installment shall be added interest on the entire assessment
from the date of this resolution until December 31, 2012. To each
subsequent installment when due shall be added interest for one year on all
unpaid installments.
Resolution No. 2012-225
Page 2 of 3
4. Such assessments between $10,001 and higher shall be payable in equal
annual installments extending over a period of 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 4.34% per annum for a 15 year
assessment period from the date of adoption of this assessment resolution.
To the first installment shall be added interest on the entire assessment
from the date of this resolution until December 31, 2012. To each
subsequent installment when due shall be added interest for one year on all
unpaid installments.
5. The owner of any property so assessed may, at any time prior to
certification of the assessment to the County Finance Director, pay the
whole of the assessment on such property with interest accrued to the date
of payment to the City of Plymouth Finance Department, except that no
interest shall be charged if the entire assessment was paid within 30 days
from the adoption of this resolution; and he may at any time there after, pay
the City of Plymouth Finance Department the entire amount of the
assessment remaining unpaid, with interest accrued to December 31 of the
year in which such payment is made. Such payment must be made by
November 15 or interest will be charged through December 31 of the next
succeeding year. The owner of any property so assessed may also, within
30 days from the adoption of the resolution, make a partial payment of a
least $100 to the City of Plymouth Finance Department. The remaining
unpaid balance will be certified as the new assessment amount. The owner
may also at any time prior to November 15, of any year, pay the remaining
unpaid principal balance with interest accrued to December 31 of the year
in which such prepayment is made.
6. The Clerk shall forthwith transmit a certified duplicate of this assessment
to the County Finance Director to be extended on the property tax lists of
the County. Such assessments shall be collected and paid over in the same
manner as other municipal taxes.
7. The total cost of the improvement assessed by this resolution is
$106,724.48.
Approved this 24th day of July, 2012.
Resolution No. 2012-225
Page 3 of 3
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 July 24, 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