HomeMy WebLinkAboutCity Council Resolution 2011-143CITY OF PLYMOUTH
RESOLUTION No. 2011-143
A RESOLUTION DECLARING COST TO BE ASSESSED AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT ROLL
2010 STREET RECONSTRUCTION PROJECT
CITY PROJECT NO. 10001
WHEREAS, a contract has been let for the improvement of the East Parkers Lake
area including 17th and 18th Avenue from Fernbrook Lane to, and including Ithaca Lane,
and the adjacent cul-de-sac, and the streets south of County Road 6 and north of the Luce
Line Trail, from, and including Kingsview Lane, to, and including Fernbrook Lane, and
the adjacent cul-de-sacs, but excluding Kingsview Lane, north of Juneau Lane and The
Parkers Lake Corporate Center area including 23rd Avenue and 251h Avenue, west of
Niagara Lane, to and including Polaris Lane for the reconstruction of streets with the
installation of bituminous pavement, concrete curb and gutter installation and repair,
storm sewer installation and repair, watermain replacement, and all necessary
appurtenances, and the contract price for such improvement is $3,481,504.21, and the
expenses incurred or to be incurred in the making of said improvement amount is
$522,225.63, so that the total cost of the improvement will be $4,003,729.84.
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 $2,502,324.29 and the portion of the
cost to be assessed against benefited property owners is declared to be
$1,501,405.55.
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, 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 10th day of May, 2011.