HomeMy WebLinkAboutCity Council Resolution 2015-086CITY OF PLYMOUTH
RESOLUTION NO. 2015-086
RESOLUTION DECLARING COST TO BE ASSESSED, AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT FOR THE
2015 MILL AND OVERLAY PROJECT (15002.1)
WHEREAS, estimated costs have been calculated for the 2015 Mill and Overlay Project, City
Project No 14014 including the streets in the following locations. The streets north of Canadian Pacific
Railway, south of Bass Lake Road, East of Zachary Lane, and west of Nathan Lane excluding Ximinies
Lane south of 53rd Avenue. The Streets west of Interstate 494, north of 54th Avenue, south of 62nd
Avenue, and east of Fernbrook Lane/Cheshire Parkway. The streets north of Canadian Pacific Railway,
south of County Road 47, west of Pineview Lane, and east of Interstate 494. The streets east of
Pineview Lane, south of 58th Avenue, north of Canadian Pacific Railway, and west of Larch Lane
excluding the cul-de-sac of 53rd and 54th Avenues adjacent to Larch Lane. Finally, the streets north of
Gleason Lake Drive, south of 11th Avenue, west of Interstate 494 and east of Juneau Lane, but excluding
10th Avenue east of Harbor Lane and 4th Avenue west of Harbor Lane, and the estimated cost for such
improvement is $2,859,147.84, and the expenses incurred or to be incurred in the making of such
improvement amount to $233,202.62 so that the total cost of the improvement will be $3,092,350.46.
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 $1,787,886.72 and the portion of the cost to be assessed
against benefited property owners is declared to be $1,299,034.13.
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, 2016, and shall bear the interest
rate of 2.78% percent for a 5 year term, 3.46% for a 10 year term, or 3.78% 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 by the City Council this 24th day of March, 2015.