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<br />Councilmember Jeffrey introduced the following resolution and moved for its adoption: <br /> <br />RESOLUTION #06-07-234 <br /> <br />RESOLUTION DECLARING COST TO BE ASSESSED AND ORDERING <br />PREPARATION OF PROPOSED ASSESSMENT FOR IMPROVEMENT PROJECT #05- <br />27 (WELCOMES ROAD STREET GRADING AND PAVING) <br /> <br />WHEREAS, a contract costs have been determined with reference to for Improvement <br />Project #05-27, Welcome's Road Grading and Paving Improvements; and the expenses to be <br />incurred in the making of such improvement amount to $281,900 so that the total cost of the <br />improvement will be $281,900. <br /> <br />I <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br /> <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 $151,078 and the portion of the cost to be assessed against benefited <br />property owners is declared to be $130,822. <br /> <br />2) That the principal of the assessments shall be in annual installments extending over a <br />period of ten 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 /> <br />3) 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 /> <br />4) That the City Administrator shall, upon the completion of such proposed assessment, <br />notify the Ramsey City Council thereof. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />Cook, and upon vote being taken thereon, the following voted in favor thereof: <br /> <br />Mayor Gamec <br />Councilmember Jeffrey <br />Councilmember Cook <br />Councilmember Elvig <br />Councilmember Olson <br />Councilmember Pearson <br />Councilmember Strommen <br /> <br />and the following voted against the same: <br /> <br />none <br /> <br />and the following abstained: <br /> <br />none <br /> <br />Resolution #06-07-234 <br />1of2 <br />