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Councilmember introduced the following resolution and moved for its adoption: <br />RESOLUTION #06- 09 -XXX <br />RESOLUTION, DECLARING COST TO BE ASSESSED AND ORDERING <br />PREPARATION OF PROPOSED ASSESSMENT FOR IMPROVEMENT PROJECT <br />#06 -02 (SEALCOAT AND CRACKFILL ST. FRANCIS BLVD FRONTAGE ROAD; <br />SUNWOOD DRIVE; ALPINE DRIVE; WACO STREET) <br />WHEREAS, costs have been determined with reference to the sealcoat and crackfill of <br />St. Francis Blvd frontage Road; Sunwood Drive; Alpine Drive; Waco Street and the expenses <br />incurred or to be incurred in the making of such improvement amount to $53,814 so that the total <br />cost of the improvement will be $53,814. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br />1) That the portion of the cost of such improvement to be paid by the City of Ramsey is <br />hereby declared to be $51,264 and the portion of the cost to be assessed against benefited <br />property owners is declared to be $2,550. <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 />2006, 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 />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 />affected, without regard to cash valuation, as provided by law, and shall file in the city <br />offices a copy of such proposed assessment for public inspection. <br />That the City Administrator shall, upon the completion of such proposed assessment, <br />notify the Ramsey City Council thereof. <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />, and upon vote being taken thereon, the following voted in favor thereof: <br />and the following voted against the same: <br />and the following abstained: <br />and the following were absent: <br />Resolution #06- 09 -XXX <br />1 of 2 <br />—127— <br />