HomeMy WebLinkAboutCity Council Resolution 2011-021CITY OF PLYMOUTH
RESOLUTION No. 2011-021
A RESOLUTION DECLARING COST TO BE ASSESSED, AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT FOR THE
CIMARRON PONDS STREET RECONSTRUCTION PROJECT
CITY PROJECT NO. 9113
WHEREAS, estimated costs have been calculated for the Cimarron Ponds Street
Reconstruction Project, City Project No 9113 including the streets located west of Vicksburg
Lane N, south of and including 12t1' Avenue N, north of and including 10t1' Avenue N., Black
Oaks Lane west of 12t1' Avenue N, Archer Lane N west of 10th Avenue N, and Xene Lane N,
Yuma Lane N, and Zanzibar Lane N, south of 10t1' Avenue N., and the estimated cost for such
improvement is $1,691,042.64, and the expenses incurred or to be incurred in the making of such
improvement amount to $422,760.66 so that the total coat of the improvement will be
$2,113,803.30.
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 $681,672.29 and the portion of the cost to
be assessed against benefited property owners is declared to be $1,454,131.01.
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, 2012, and shall bear the
interest rate of 3.38% percent for a 5 year term or 4.96% for a 10 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 this 25th day of January, 2011.