HomeMy WebLinkAboutResolution No. 148-15• 148-15
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Resolution Declaring Cost to be Assessed, and Ordering Preparation of Proposed
Assessment
WHEREAS, estimated costs have been calculated for the Street Reconstruction
Project, Shoppes on Maine Area by the City Engineer and the estimated cost for such
improvement is $3,000,000.
NOW THEREFORE, BE IT RESOLVED by the Common Council of the City of
Rochester, Minnesota:
1. The portion of the cost of such improvement to be paid by the city is hereby declared
to be $0.00 and the portion of the cost to be assessed against benefited property owners
is declared to be $3,000,000.
2. Assessments shall be payable in equal annual installments extending over a period of
fifteen (15) years, the first of the installments to be payable on or before the first Monday
in January, 2016, and shall bear interest at the rate of 5.75 percent 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 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.
SoM Resolution Declaring Cost Assessed and Ordering.doc
148-15
0 D21
•
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS 6th DAY OF APRIL , 2015.
PRESIbEN L911
SAID COMMON COUNCIL
ATTEST: 5-
CITY CLERK
APPROVED THIS 7th DAY OF APRIL , 2015.
MAYOR OF SAID CITY
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SoM Resolution Declaring Cost Assessed and Ordering.doc