HomeMy WebLinkAboutCity Council Resolution 2010-242CITY OF PLYMOUTH
RESOLUTION No. 2010-242
A RESOLUTION DECLARING COST TO BE ASSESSED AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT ROLL
CAMPUS DRIVE / 26TH AVENUE MILL AND OVERLAY PROJECT
CITY PROJECT NO. 8107
WHEREAS, bids have been received for the improvement of Campus Drive by
bituminous resurfacing of the street, replacement of concrete curb and gutter, driveway
entrance repair, repairs to utility strictures, traffic signal loop detectors and all necessary
appurtenances, and for the improvement of 26th Avenue by reconstruction of the street and
replacement of an existing culvert, and the contract price for such improvement is
$431,694.24. Expenses incurred or to be incurred in the making of said improvement amount
is $64,754.14, so that the total cost of the improvement will be $496,448.38.
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 $422,974.02 and the portion of the cost to be assessed against benefited
property owners is declared to be $73,474.36.
2. Assessment shall be payable in equal annual installments extending over a period of 5
years, 10 years, or 15 years, with the first of the installments to be payable on or before
the first Monday in January, 2011, and shall bear the interest rate of 2.57 percent per
annum for 5 years, 3.69 percent per annum for 10 years, or 4.29 percent per annum for 15
years 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 14th day of September, 2010.