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PROCEEDINGS OF CITY OCI3NCIL <br /> PUBLIC HEARING <br /> CITY OF BAMSEY <br /> AN~KA (//3NTY <br /> S~TE OF MINNESOg~ <br /> <br />~e Ramsey City Council oonducted a public hearing on Tuesday, January 29, <br />1985 at the Ramsey Municipal Center, 15153 Nowthen Blvd. N.W., Ramsey, <br />Minnesota regarding Street Improvement Project %84-16 for Ramsey Terrace. <br /> <br />Members Present: <br /> <br />Mayor Gary Heitman <br />Councilmember Jean Schlueter <br />Councilmeaber Gary Reimann <br />Councilmeaber Arnie Cox <br />Councilmmember A1 Sorteberg <br /> <br />Also Present: <br /> <br />City Building Official Clayton Berg <br />City Engineer Peter Raatikka <br /> <br />Mayor Heitman called the public hearing to order at 7:43 p.m. <br /> <br />_k~FSEN~TIONBY CITY ENGINEER <br /> <br />City Engineer made a slide presentation of the propDsed street improvement <br />project to Ramsey Terrace. <br /> <br />Mr. Raatikka stated that in addition to grading, class 5 and blacktopping, the <br />project proposes to install ta~o drainage culverts, cleaning ditches and <br />existing culverts. Mr. Raatikka stated that it will be the responsibility of <br />the homeowner to restore the boulevards and oonnect driveways to the roadway. <br />Mr. Raatikka stated that the only time the oontractor will be connecting the <br />driveway to the roadway is if the driveway oomes within' one foot of the road <br />travel way. <br /> <br />Mr. Raatikka stated that the total estimated project cost is $95,750.00 and <br />the unit oost will be $2,226.74, amortized over 10 years at 10% interest <br />giving an annual oost of $362.29. (Actual interest rate will be determined by <br />sale of bonds by the City.) Any homeowner can pay their assessment within 30 <br />days after the assessment hearing without incurring any interest. <br /> <br />Mayor Heitman inquired as to how accurate the estimated 10% interest rate is. <br /> <br />Mr. Raatikka stated that considering the current bond market, 10% should be <br />close; the absolute maximum interest rate charged would be 13-1/2%. <br /> <br />~ITIZEN INPUT <br /> <br />SoDtt Dickenson - 14160 Junkite - Are vacant lots receiving an assessment? <br /> January 29, 1985 <br /> <br />Page 1 of 5 <br /> <br /> <br />