HomeMy WebLinkAboutCity Council Resolution 2011-272CITY OF PLYMOUTH
RESOLUTION NO. 2011-272
A RESOLUTION DECLARING COST TO BE ASSESSED, AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT FOR THE
HOLLY LANE EDGE MILL AND OVERLAY PROJECT
WHEREAS, estimated costs have been calculated for the Holly Lane Edge Mill and
Overlay Project, and the estimated cost for such improvement is $30,000, and the expenses
incurred or to be incurred in the making of such improvement amount to $4,500 so that the total
cost of the improvement will be $34,500.
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 $0 and the portion of the cost to be assessed
against benefited property owners is declared to be $34,500.
2. Assessments shall be payable in equal annual installments extending over a
period of 5 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%
percent for a 5 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 23rd
day of August, 2011.