RES 2005-50 - 00013584RESOLUTION NO. 2005 - 50
RESOLUTION DECLARING COST TO BE ASSESSED AND ORDERING
PREPARATION OF PROPOSED ASSESSMENT FOR THE STREET IMPROVEMENT
PROJECT NO. ST. 2005 -1
WHEREAS, the costs for the Street Improvement Project No. ST. 2005 -1 have been estimated to
be $2,516,907.83 for the contract price for such improvement and $334,000 for expenses incurred
in the making of such improvement so that the total estimated cost of the improvement is
$2,850,907.83.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF FRIDLEY,
MINNESOTA:
The portion of the cost of such improvement to be paid by the City is hereby estimated to be
$2,100,505.56 and the portion of the cost to be assessed against benefited property owners is
estimated to be $750,402.27.
Assessments shall be payable in equal installments extending over a period of 10 years, the first
of the installments to be payable on or before the first Monday in January, 2006 and shall bear
interest at the rate of 6.5 percent per annum from the date of the adoption of the assessment
resolution.
The Finance Director, 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
law, and he shall file a copy of such proposed assessment in his office for public inspection.
The Finance Director shall upon the completion of such proposed assessment, notify the Council
thereof.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS
3RD DAY OF OCTOBER 2005.
0
SCOTT J. - AYOR
ATTEST:
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DEBRA A. SKOGENO CITY CLERK