HomeMy WebLinkAboutCity Council Resolution 2011-086CITY OF PLYMOUTH
RESOLUTION No. 2011-086
A RESOLUTION DECLARING COST TO BE ASSESSED AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT ROLL
8T" AVENUE STREET RECONSTRUCTION PROJECT
CITY PROJECT NO. 10004
WHEREAS, a contract has been let for the improvement of 8t1' Avenue
from County Road 101 to approximately 100 feet east of Shadyview Lane for
the reconstruction of the street with the installation of bituminous pavement,
concrete curb and gutter installation, storm sewer installation and repair,
watermain replacement, and all necessary appurtenances, and the contract price
for such improvement is $487,748.76 and the expenses incurred or to be
incurred in the making of said improvement amount is $87,488.77 so that the
total cost of the improvement will be $575,237.53.
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 $376,084.67 and the portion of the cost
to be assessed against benefited property owners is declared to be
$199,152.86.
2. Assessments shall be payable in equal annual installments extending over a
period of either 10 years or 15 years, with the first of the installments to be
payable on or before the first Monday in January, 2012, and shall bear the
interest rate of 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.