HomeMy WebLinkAboutCity Council Resolution 2020-023
C ITY OF P LYMOUTH
R ESOLUTION N O. 2020-023
R ESOLUTION D ECLARING C OST TO BE A SSESSED, AND
O RDERING P REPARATION OF P ROPOSED A SSESSMENT FOR THE
2020 M ILL AND O VERLAY P ROJECT (ST209002)
WHEREAS, estimated costs have been calculated for the 2020 Mill and Overlay Project
(ST209002) including the streets north of CP rail, south of Schmidt Lake Road, west of Garland Court,
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and east of Peony Lane as well as West Medicine Lake Drive from CSAH 61 to State Highway 55 and 12
Avenue east of West Medicine Lake Drive, and the estimated cost for such improvement is
$1,239,533.91, and the expenses incurred or to be incurred in the making of such improvement amount
to $159,521.16 so that the total cost of the improvement will be $1,399,055.07.
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 $1,119,690.94 and the portion of the cost to be assessed against benefited property
owners is declared to be $279,364.13.
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, 2021, and shall bear the interest rate of 2.67% percent for a 5
year term, 3.00% for a 10 year term, or 3.23% 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 City Council
thereof.
APPROVED by the City Council on this 14th day of January, 2020.