Resolution - #89-08-207 - 08/15/1989

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Counc;i.]me~,br~: DeLuca introduced the following resolution and moved for its adoption: RESOLUTION %89-08-207 RESOLUTiOI~q I)NCI,ARING COST TO BE ASSESSED AND ORDERING PREPARATION OF PROPOSED ASSRSSMENT (#87-18 AND 88-9 FRONT STREET) W~ER~i~S~ a contract has been let and costs have been determined with reference to the street improvements on Front Street, Tungsten Avenue, SuNt~sh Lake Blvd. and Feldspar Street and the contract price fey su<~h improvements is $430,167.80 and the expenses incurred or to be i~,c~rred in the making of such improvement amount to $219,410 16 so that the total cost of the improvement will be $649,577~911~ NOW THERE6(~RL, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, A~q(H(n COUNTY, STATE OF MINNESOTA, as follows: 1) '~b~ ~x~rtion of the cost of such improvement to be paid by the City <>~ Ramsey is hereby declared to be $0.00, the portion to be paid by ~SN~ funds is $445,992.13 and the portion to be paid by the MississippJ River Taxing District is $66,000 and the portion of the cost 'to }><~ ~ssessed against benefited property owners is declared to be $].37,!i!~[~83 (less right-of-way agreements). 2) A~;o~sments shall be in equal annual installments extending over a f~j~d of ten years, the first of the installments to be payable ~ ~ before May 15, 1990 and shall bear interest at the rate of /~.] percent per annum from the date of the adoption of the assessme~t resolution. 3) Tb~ (:Jt.y Administrator shall upon the completion of such proposed d~;sessment, notify the Ramsey City Council thereof. The moti<~:n Jl>r the adoption of the foregoing resolution was duly seconded }~¥-' {k~uncilmember Pearson and upon vote being taken thereon, the folhr.-~J~lq voted in favor thereof: Coun~;Jlmen~er DeLuca CouficJ [member Pearson Con~l~',~ ]member Cich and the ~I'~l ~wing voted against the same: and the [q~] owing were absent: member Peterson and the f~J ]owing abstained: