HomeMy WebLinkAbout1994-254
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RESOLUTION NO. 94. 254
Resolution Declaring Cost to be Assessed
and
Ordering Preparation of Proposed Assessment
Marketplace, L.I. 301
WHEREAS, a contract has been let (costs have been determined) for the improvement of
all real property bounded by County Road 5 on the west, State Trunk Highway 36 on the
south, Washington Avenue and its extension to West Willard Street on the east and West
Willard Street on the north and the contract price for such improvement is $2,351,840, and
the expenses incurred or to be incurred in the making of such improvement amount to
$498,796.21 so that the total cost of the improvement will be $2,850,636.21.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF STILLWATER,
MINNESOTA:
1. The portion of the cost of such improvement to be paid by the city is hereby declared
to be $1,399,932.01 and the portion of the cost to be assessed against benefited
property owners is declared to be $1,450,704.20.
2.
Assessments shall be payable in equal annual installments extending over a period
of ten (10) years, the first of the installments to be payable with general taxes
collected in 1995, and shall bear interest at the rate of 7.25 percent per annum from
the date of the adoption of the assessment resolution.
3. The city clerk, with the assistance of the city engineer (consulting 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 he shall file a copy of such
proposed assessment in his office for public inspection.
4. The clerk shall upon the completion of such proposed assessment, notify the council
thereof.
Adopted by the council this 4th day of October, 1994.
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Mod. Weldon, City Oerk