HomeMy WebLinkAboutCity Council Resolution 2015-161
CP
ITY OF LYMOUTH
RN.2015-161
ESOLUTION O
RDCA,
ESOLUTION ECLARING OST TO BE SSESSED AND
OPPA
RDERING REPARATION OF ROPOSED SSESSMENT FOR THE
2015PWMOPPII
UBLIC ORKS ILL AND VERLAY ROJECT HASE
(15002.3)
WHEREAS, estimated costs have been calculated for the 2015 Public Works Mill and Overlay
Project Phase II, City Project No 15002.3 including the streets in the following locations. The streets north
of Old Rockford Road and east of Holly Lane including Garland Lane, Fountain Lane, Dunkirk Lane
th
Comstock Lane and 45 Avenue in the subdivisions known as Golfview Estates and Golfview Woods, and
the estimated cost for such improvement is, $220,922.70 and the expenses incurred or to be incurred in
the making of such improvement amount to $17,364.50 so that the total cost of the improvement will be
$238,287.20.
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 $178,287.20 and the portion of the cost to be assessed against
benefited property owners is declared to be $60,000.
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 on this 9th day of June, 2015.