HomeMy WebLinkAboutCity Council Resolution 2011-306CITY OF PLYMOUTH
RESOLUTION No. 2011-306
A RESOLUTION DECLARING COST TO BE ASSESSED AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT ROLL
ANNAPOLIS LANE STREET RECONSTRUCTION PROJECT
CITY PROJECT NO. 11002
WHEREAS, a contract has been let for the improvement of Annapolis
Lane from Fernbrook Lane to County Road 9 and Berkshire Lane from County
Road 9 to approximately 150' south of 42nd Avenue, by reconstruction or edge
mill and overlay of streets with the installation of bituminous pavement,
concrete curb and gutter, storm sewer, and all necessary appurtenances, and the
contract price for such improvement is $1,047,687.54 and the expenses
incurred or to be incurred in the making of said improvement amount is
$253,911.25 so that the total cost of the improvement will be $1,301,598.79.
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 $890,683.99 and the portion of the cost
to be assessed against benefited property owners is declared to be
$419,591.60.
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 13th day of September, 2011.