Agenda - Public Works Committee - 02/15/2005

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CITY OF RAMSEY Notice Regarding Public Hearing and Assessment for Seatcoating and Crackfill of Final costs associated with the above project have been determined. Notice is hereby being given that the Ramsey City Council will meet at 7:00 p.m., Tuesday, ,2005 at the Ramsey Fire Station located at 15050 Armstrong Boulevard NW to consider testimony and pass upon the proposed assessment for the above project. The amount to be assessed against your property (the property identification number listed on your mailing envelope) is $ Tiffs amount represents your share of half of the project cost, since the remaining half is financed by the City through general proPerty tax revenue. This letter wild be the only notice you will receive of the assessment unless the City Council determines after the public hearing that the correct assessment should be other than that proposed, In such case, a letter will be sent by Friday, , ~2005 advising you of the actual assessment levied. The proposed assessment roll is on file for public inspection at City .Hall. Written or oral objections will be considered at the hearing. No appeal may be taken as to the amount of an assessment unless a signed, whtten objection is filed with the City Administrator prior to the hearing or presented to the presiding officer at the hearing. The City Council may upon such notice consider any objection to the amount of a proposed individual assessment at an.adjourned hearing upon such further notice to the affected property owners as it deems advisable. How to Pay the Assessment Payment of assessments may be made in any of the following way: Affected property owners may, at any time between September 28, 2005 and November 5, 2005 (prior to certification of the assessment to the Anoka County Auditor). pay the entire assessment on such property with interest accrued to the date of payment, to the City of Ramsey, either in person or by mail. It is helpful if you write the projbct number and your PIN number on your check. If you decide not to prepay the assessment by November 5th, 2005 the rate of interest that will apply is 6.0 percent per year. Prior to November of any subsequent year,, you may prepay to the City of Ramsey the whole assessment remaining due as shown on the schedule below: Schedule of payment The special assessment of such improvement to your property is $ This cost will be assessed over 3 yea/s at 6.0 percent interest per year. Listed below is a breakdown of'the yearly principal and interest costs. Please note the change in the first year's interest cost. The first years interest cover a period of 459 days from September 28, 2004 to December 31, 2005. Due before Principal 6.0% Interest Payment Amount Pay-offBalance 11/01/05 0 0 0 99.69 11/01/06 33.23 7.52 40.75 66.46 11/01/07 33.23 3.99 37.22 33.23 11/01/08 33.23 1.99 35.22 0.00 Total 99.69 13.50 113.19