HomeMy WebLinkAboutCity Council Resolution 2015-185CITY OF PLYMOUTH
RESOLUTION No. 2015-185
RESOLUTION DECLARING COST TO BE ASSESSED, AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT FOR THE
2015 PUBLIC WORKS MILL AND OVERLAY PROJECT (15002.2)
WHEREAS, estimated costs have been calculated for the 2015 Public Works Mill and Overlay
Project, City Project No 15002.2 including the streets in the following locations. The streets north of
Schmidt Lake Road, west of and including Saratoga Lane, east of and including Cottonwood Lane, south
of and including 52nd Avenue, and excluding Zachary Lane. The streets south of 47th Avenue, north of
42nd Place, west of County Road 61, and east of Interstate 494. The Streets north of Schmidt Lake Road,
west of Pineview Lane, east of and including Rosewood Lane, and south of and including 50th Avenue.
The streets west of and including Quaker Lake, east of and including Union Terrace Lane, south of Old
County Road 15, and north of the Plymouth boarder with Minnetonka. Also included are 35th Place,
Wedgewood Lane, and 35th Avenue east of Xenium Lane, 11th Avenue east of Ferndale Road, 10th
Avenue east of County Road 61, and Goldenrod Lane north of 50th Avenue, and the estimated cost for
such improvement is, $1,091,570.62, and the expenses incurred or to be incurred in the making of such
improvement amount to $100,380.91 so that the total cost of the improvement will be $1,191,951.53.
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 $734,954.77 and the portion of the cost to be assessed
against benefited property owners is declared to be $456,996.76.
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 23rd day of June, 2015.