Resolution - #89-08-203 - 08/15/1989

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Councilm~_x~h(-r DeLuca introduced the following resolution and moved for its adoption: RESOLUTION #89-08-203 RESOLUTION DECLARING COST TO BE ASSESSED AND ORDERING PREPARATION OF PROPOSED ASSESSMENT (#89-2, 156TH AVENUE N.W. STREET IMPROVEMENT) WHEkNAS~ a contract has been let and costs have been determined with reference to the street improvement of 156th Avenue N.W. and the conl tact price for such improvements is $39,688.75 and the expenses incurred or to be incurred in the making of such improvement% a'aount to $10,319.09 so that the total cost of the improveme~,t w].ll be $50,00'7.84. NOW THEi{I'~FO[dE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, AN{}~A COUNTY, STATE OF MINNESOTA, as follows: !) 'l't~e portion of the cost of such improvement to be paid by the City {~f Ramsey is hereby declared to be $0.00 and the portion of the cost t~ be assessed against benefited property owners is declared to be $50,007.84~ 2) A~:~e~sments shall be in equal annual installments extending over a pein{od of 10 years, the first of the installments to be payable c~ ox 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 assessme~ ~esolution. 3) 'l't~{~ C~ty Administrator shall upon the completion of such proposed assessment, notify the Ramsey City Council thereof. The mot]~.n ~:or the adoption of the foregoing resolution was duly seconded ~(? Councilmember Cich and upon vote being taken thereon, the foll<>wi_t,g voted in favor thereof: May(,?' R~.imann Co'~rtr::i]member DeLuca Cok,~(::i!member Cich Co~}~,~':[Jmember Pearson and the :~!.}owi. ng voted against the same: and the 2(,l~]cwing were absent: Co~r,~:] Jmember Peterson and the ~{,I]c~wing abstained: