Agenda - Council - 08/15/1989 - Laserfiche WebLink

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RESOLUTION ~89-08 RESOLUTION DECI2~RING COST TO BE ASSESSED A2~D ORDERING PREPAi~ATiON OF PROPOSED ASSESSMENT (~87-15 AND 88-9 FRONT STREET) W~EREAS, a contract has been let and costs have been determined with re~erence to the street improvements on !ront Street, Tungsten Avenue, Sunfish Lake Blvd. and Feldspar Street and the contract price for such improvements is $430,167.80 and the expenses incurred or to be incurred in the making of such improvement amount to $219,410.16 so that the total cost of the improvement will be $649,577.96. NOW THEREFORE, BE IT P~ESOLVED BY THE CITY COUNCIL OF THE CITY OF P~[SEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1) The portion of the cost of such improvement to be paid by the City of Ramsey is hereby declared to be $0.00, the portion to be paid by MSAS funds is $445,992.13 and the portion to be paid by the Mississippi River Taxing District is $66,000 and the portion of the cost to be assessed against benefited property owners is declared to be $137,585.83. 2) Assessments shall be in eqFaal annual installments extending over a period of ten years, the first of the insSal!ments to be payable on or before May 15, 1990 and shall bear interest at the rate of 8.1 percent per annum from the date of the adoption of the assessment resolution. 3) The City Administrator shall upon the completion of such proposed assessment, notify the Ramsey City Council thereof. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember and upon vote being taken thereon, the following voted in favor thereof: and the following voted against the same: and the following were absent: and the following abstained: whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this the !5th day of August, 1989.