HomeMy WebLinkAboutCity Council Resolution 2018-128
C ITY OF P LYMOUTH
R ESOLUTION N O. 2018-128
R ESOLUTION D ECLARING C OST TO BE A SSESSED AND
O RDERING P REPARATION OF P ROPOSED A SSESSMENT FOR THE
2018 P UBLIC W ORKS M ILL & O VERLAY P ROJECT (ST189004.001)
WHEREAS, estimated costs have been calculated for the 2018 Public Works Mill & Overlay
Project (ST189004.001) including the streets in the following locations: the streets west of Vicksburg
Lane, north of Rockford Road, south of Old Rockford Road, and east of Dunkirk Lane, excluding Yuma
Lane, Xene Lane, and 41st Avenue east of Xene Lane; west of Interstate 494, north of 46th Place, south
of Schmidt Lake Road, and east of Fernbrook Lane; north of Rockford Road, east of Fernbrook Lane,
south of and including 42nd Avenue and Berkshire Court, and west of and including Berkshire Lane
except for 1,320 feet north of Rockford Road; south of Rockford Road, east of Interstate 494, west of
Xenium Lane, and north of and including Zinnia Lane and 36th Avenue, as well as 39th Avenue east of
Xenium Lane; west of West Medicine Lake Drive, north of 28th Avenue and 28th Place, east of
Northwest Blvd, and south of 31st Avenue, excluding Norwood Lane south of 29th Avenue; 30th
Avenue, Magnolia Lane, and Larch Lane east of West Medicine Lake Drive. The estimated cost for such
improvement is $1,490,366.80, and the expenses incurred or to be incurred in the making of such
improvement amount to $103,851.01 so that the total cost of the improvement will be $1,594,217.81.
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 declared
to be $1,114,843.93 and the portion of the cost to be assessed against benefited property
owners is declared to be $479,373.88.
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, 2018, and shall bear the interest rate of 3.22% percent for a 5
year term, 3.54% for a 10 year term, or 3.8% 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 27th day of March, 2018.