HomeMy WebLinkAbout2018-207 (declaring cost to be assessed and ordering preparation of proposed assessment for Third Street South Improvement Project, Project 2018-09) RESOLUTION 2018-207
RESOLUTION DECLARING COST TO BE ASSESSED AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT FOR
THIRD STREET SOUTH IMPROVEMENT PROJECT
PROJECT 2018-09
WHEREAS, a contract has been let and costs have been determined for the improvement of
streets and utilities and the contract(bid)price for such improvement is $400,000 and the
expenses incurred or to be incurred in the making of such improvement amount to $79,112.40 so
that the total cost of the improvement will be $479,112.40.
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
$136,856.26 and the portion of the cost to be assessed against benefited property owners is
declared to be $342,256.14.
2. Assessment amounts greater than $3,000 shall be payable in equal annual installments
extending over a period of ten (10) years and assessment amounts less than $3,000 shall be
payable in equal annual installments extending over a period of five (5) years. The first of
the installments to be payable on or before the first Monday in January, 2019, and shall bear
interest at the rate of (4.25%) four and a quarter percent per annum from the date of the
adoption of the assessment resolutions.
3. 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 law, and shall file a copy of such
proposed assessment in their office for public inspection.
4. The clerk shall upon the completion of such proposed assessment notify the council thereof.
Adopted by the City Council this 18th day of September 2018.
"Z•11-01
Ted Kozlowski, Mayor
ATTEST:
Diane F. Ward, City Clerk