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Cm~nci lmcmber Cool< introduced the following resolution and moved for its adoption: <br /> <br />RESOLUTION #05-0%297 <br /> <br />btES()I,UTION DECLARING COST TO BE ASSESSED AND ORDERiNG <br />PR I~',PA RATION OF PROPOSED ASSESSMENT FOR IMPROVEMENT PROJECT #05- <br />08 (IIlTUMINOUS OVERLAY SORTEBERG'S 4TM ADDITION, SORTERG'S 5TM <br />,\DI)IT[ON) <br /> <br /> WI 1ERI,;AS, a contract has been let and costs have been determined with reference to the <br /> j, 4th <br />lSitutnim)us Ovcrlay of Sortcberg s Addition, Sorterberg's 5th Addition the expenses incurred <br />~r to b~ incurred in the making of such improvement amount to $31,850 so that the total cost of <br />thc in~t)mvcmcnt will be $31,850. <br /> <br />NOW TIII,;REFORlg, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br /> <br />1) <br /> <br />~l'l~t thc portion of the cost of such improvement to be paid by the City of Ramsey is <br />hcrdey declarcd to be $15,925 and the portion of the cost to be assessed against benefited <br />iwopcrty owners is dcclared to be $15,925. <br /> <br />2) <br /> <br />That the principal of the assessments shall be in annual installments extending over a <br />period of three years; the first of the installments to be payable on or before December 31, <br />2005, and shall bear interest, per annum from the date of the adoption of the assessment <br />resolution, at the rate of two (2) percent above the U.S. Treasury Rate. <br /> <br />3) <br /> <br />That the City Administrator shall calculate the proper amount to be specially assessed for <br />such improvement against every assessable lot, piece or parcel of land within the district <br />alTcctcd, withont regard to cash valuation, as provided by law, and shall file in the city <br />o l'lices a copy of such proposed assessment for public inspection. <br /> <br />4) <br /> <br />'l'l~at the City Administrator shall, upon the completion of such proposed assessment, <br />noti fy the P, amsey City Council thereof. <br /> <br />'1 he motion Ibr tiao adoption of the foregoing resolution was duly seconded by Councilmember <br />}:lvig, and upon vote bcing taken thereon, the following voted in favor thereof: <br /> <br />ami lhc Ibllowing voted against the same: <br /> <br />Resolution #05-09-297 <br /> 1 of 2 <br /> <br /> <br />