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Res 2000-28 RESOLUTION NO.28-2000 RESOLUTION DECLARING COST TO BE ASSESSED AND ORDERING PREPARATION OF PROPOSED ASSESSMENT FOR RIVERVIEW HEIGHTS IMPROVEMENT PROJECT NO. ST. 1999-1 WHEREAS,the costs for the Riverview Heights Improvement Project No. ST. 1999-1 have been determined to be$1,952,774.10 for the contract price for such improvement and$947,820.03 for expenses incurred in the making of such improvement so that the total cost of the improvement is$2,900,594.13. 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 declared to be $2,419,436.39 and the portion of the cost to be assessed against benefited property owners is declared to be $481,157.74. Assessments for the storm water and the curb and gutter portion shall be payable in equal installments extending over a period of fifteen years, the first of the installments to be payable on or before the first Monday in January,2001,and shall bear interest at the rate of 6%z percent per annum from the date of the adoption of the assessment resolution. Assessments for the driveway portion shall be payable in equal installments extending over a period of five years, the first of the installments to be payable on or before the first Monday in January, 2001, and shall bear interest at the rate of 7 percent per annum from the date of the adoption of the assessments 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 clerk 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 20TH DAY OF MARCH 2000. n y �jpiL /i p L'�lf Lu C RC'i�,NS N-MAYOR ATTEST: 7/:),146(, Ctl .c�' r DEBRA A. SKOGEN-CITY LERK 314