HomeMy WebLinkAboutCity Council Resolution 2011-084CITY OF PLYMOUTH
RESOLUTION No. 2011-084
A RESOLUTION DECLARING COST TO BE ASSESSED AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT ROLL
SOUTH SHORE DRIVE REHABILITATION PROJECT
CITY PROJECT NO. 10002
WHEREAS, a contract has been let for the improvement of South
Shore Drive from 10t1' Avenue to the cul-de-sac, and 13th Avenue from South
Shore Drive to Nathan Lane and the contract work included a full depth mill
and overlay of streets by installation of bituminous pavement, concrete curb
and gutter, storm sewer, watermain, and all necessary appurtenances, and the
contract price for such improvement is $595,660.37 and the expenses incurred
or to be incurred in the making of said improvement amount is $164,195.33 so
that the total cost of the improvement will be $759,855.70.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND
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 $410,704.51 and the portion of the cost
to be assessed against benefited property owners is declared to be
$213,695.34.
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 3.45% for a 5 year term, 5.08% for a 10 year term, or
5.82% 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 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 22nd day of March, 2011