HomeMy WebLinkAboutCity Council Resolution 2016-129
C ITY OF P LYMOUTH
R ESOLUTION N O. 2016-129
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 P HASE II (16019)
WHEREAS, estimated costs have been calculated for the 2016 Public Works Mill and Overlay
Project Phase II, City Project No 16019 including the streets in the following locations. The streets
southeast of Northwest Boulevard and southwest of West Medicine Lake Drive including 31st and 32nd
Avenues and Pineview and Quinwood Lanes in the subdivision known as Heritage Ridge Plat Two, and
the estimated cost for such improvement is, $121,972 and the expenses incurred or to be incurred in
the making of such improvement amount to $10,517 so that the total cost of the improvement will be
$145,649.
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA that:
1. The portion of the cost of such improvement to be paid by the City of Plymouth is hereby
declared to be $70,111.40 and the portion of the cost to be assessed against benefited
property owners is declared to be $37,000.
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 City Clerk shall upon completion of such proposed assessment notify the Council
thereof.
APPROVED by the City Council on this 26th day of April, 2016.