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The project will have a final tabulation made on actual project costs consistent with the <br />methodology described in this report. A public heating will be held identifying the actual <br />costs to be recovered by special assessment. Each property may, at any time prior to <br />certification of the assessment to the County Auditor, pay the whole of the assessment on <br />such property, with interest, except that no interest shall be charged if the entire <br />assessment is paid within 30 days from the adoption of the assessment resolution. <br />Special assessments reported to Anoka County shall be payable over a ten year period <br />with interest at a rate of two percent (2%) above the U.S. Treasury rate at the time of the <br />special assessment heating. <br /> <br />PROJECT SCHEDULE <br />This project is anticipated to proceed under the regulations of Chapter 4 of City Code and <br />State Statutes 429 which regulate special assessment public improvement projects. A <br />schedule for the progress of this project is anticipated as follows: <br /> <br />· February 28, 2006 <br /> <br />· M~rch 28, 2006 <br />· June 13,2006 <br /> <br />· July 11,2006 <br />· August 2006 <br />· September 26, 2006 <br />· May 2007 <br /> <br />City Council orders public heating and revision of project <br />feasibility study <br />Hold public hearing <br />Authorize project by City Council (60 days after public <br />hearing) and order bids <br />Receive bids and award construction contract <br />Construct project <br />Hold assessment heating and levy assessments <br />First assessment payment due <br /> <br />SUMMARY AND CONCLUSIONS <br />The proposed improvements are technically feasible and will benefit the area served. It is <br />recommenddd that the City take the steps discussed in the Project Schedule section of this <br />report to decide whether to proceed with the improvements. <br /> <br />-5- 49 <br /> <br /> <br />