Resolution - #92-09-219 - 09/08/1992

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Councilmember Hardin introduced the following resolution and moved for its adoption: RESOLUTION #92-09-219 RESOLUTION DECLARING COST TO BE ASSESSED AND ORDERING PREPARATION OF PROPOSED ASSESSMENT FOR IMPROVEMENT PROJECTS g91-13 & g91-14 (CITY WATER, SANITARY SEWER, STORM SEWER, PARKS AND STREET IMPROVEMENTS FOR CHESTNUT HILLS, CEDAR HILLS, WINDEMERE WOODS, AND CHESTNUT PONDS ADDITIONS AND TRUNK LINES FOR WOOD PONDS HILLS AND SUNNY PONDS ADDITIONS) WHEREAS, a contract has been let and costs have been determined with reference to the City water, sanitary sewer, storm sewer and street improvements to Chestnut Hills, Cedar Hills, Windemere Woods, and Chestnut Ponds Additions and trunk lines for Wood Pond Hills and Sunny Ponds Additions and the expenses incurred or to be incurred in the making of such improvement amount to $1,858,904.00 so that the total cost of the improvement will be $1,858,904.00. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1) That the portion of the cost of such improvement to be paid by the City of Ramsey is hereby declared to be $ - 0 - and the portion of the cost to be assessed against benefited property owners is declared to be $2,046,948.00. The difference between the assessment and total project cost will be applied to past and future expenses associated with the extension of trunk utilities. 2) That the principal of the assessments shall be in annual installments extending over a period of five years; the first of the installments to be payable on or before May 15, 1993 and shall bear interest at the rate of 8% per annum from the date of the adoption of the assessment resolution. 3) That the City Administrator shall, upon the completion of such proposed assessment, notify the Ramsey City Council thereof. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember Peterson and upon vote being taken thereon, the following voted in favor thereof: Mayor Gilbertson Councilmember Hardin Councilmember Peterson Councilmember Zimmennan and the following voted against the same: Nonc and thc R)llowing abstained: Nonc and the following were absent: Councilmember Beyer whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this the~8th da~ of September, 1992. ~~t~ ~dministrator