HomeMy WebLinkAboutCity Council Resolution 2016-110
C ITY OF P LYMOUTH
R ESOLUTION N O. 2016-110
R ESOLUTION D ECLARING C OST TO BE A SSESSED, AND
O RDERING P REPARATION OF P ROPOSED A SSESSMENT FOR THE
2016 P UBLIC W ORKS M ILL AND O VERLAY P ROJECT (16003)
WHEREAS, estimated costs have been calculated for the 2016 Public Works Mill and Overlay
Project, City Project (16003) including the streets in the following locations. The streets east of Peony
Lane, north of State Highway 55, west of Dunkirk Lane, south of Old Rockford Road, and excluding
Dunkirk Court, Fountain Lane, and 42nd Place. The streets east of Rockford Road, north of 36th Avenue,
west of Vicksburg Lane, and south of 38th Avenue. The streets east of Plymouth Boulevard, north of
State Highway 55, west of Fernbrook Lane, and south of 34th Avenue. The streets east of Zanzibar Lane,
north of and including 26th Avenue, west of Vicksburg Lane, south of State Highway 55, and excluding
27th place directly east of Zanzibar Lane. Also included are the streets east of Dunkirk Lane, north of
22nd Place, west of Vicksburg Lane, and south of 26th Avenue, and the estimated cost for such
improvement is $2,087,238.15, and the expenses incurred or to be incurred in the making of such
improvement amount to $131,029.25 so that the total cost of the improvement will be $2,218,267.40.
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 $1,588,971.38 and the portion of the cost to be assessed against benefited
property owners is declared to be $629,296.02.
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, 2017, and shall bear the interest rate of 2.89% percent for a 5
year term, 3.52% for a 10 year term, or 3.85% 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
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 by the City Council on this 12th day of April, 2016.