Resolution - #07-09-256 - 09/25/2007

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Mayor Gamec introduced the following resolution and moved for its adoption: RESOLUTION #07-09-256 RESOLUTION ADOPTING ASSESSMENT FOR IMPROVEMENT PROJECT #07-09 (OVERLAY SHADY LAWN EST; TROTT BROOK RIDGE & ZIRCONIUM STREET) WHEREAS, pursuant to proper notice duly given as required by law, the Ramsey City Council has met and heard and passed upon all objections to the proposed assessment for the Improvement Project #07-09, which is includes the overlay of: 169th Lane from Azurite St. to Yttrium St. 169th Lane from Yttrium 8t. to a point 200 ft east 170th Ave. from Azurite St. to Yttrium St. 170th Lane from Azurite St. to Yttrium St. 170th Lane from Azurite St. to a point 200 ft west 1715t Lane from Yttrium St. to cui de sac 172nd Lane from Yttrium St. to a point 300 ft east Azurite St. from 169th Lane to 170th Lane Yttrium St. from 169th Lane to 172nd Lane Zirconium St. from 167th Ave. -to 169th Lane NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1) That such proposed assessment, a copy of which is attached hereto and made a part hereof, it hereby accepted and shall constitute the special assessment against the lands named therein, and each tract of land therein included is hereby found to be benefited by the improvement in the amount of the assessment levied against it. 2) That such assessment shall be payable in annual installments extending over a period of ten years, the first of the installments to be payable with the first tax rolls of 2008 and shall bear interest at the rate of 6.8 percent annum from the date of the adoption of this assessment resolution. To the first installment interest shall be added on the entire assessment from the date of this resolution until December 31,2008. To each subsequent installment, when due, interest shall be added for one year on all unpaid installments. 3) That the owner of any property so assessed may, at any time prior to certification of the assessment to the Anoka County Auditor, pay the whole of the assessment on such property, with interest accrued to the date of payment, to the City Finance Department, except that no interest shall be charged if the entire assessment is paid by November 2, 2007. If payment is not made on or before November 2, 2007 interest willbe charged _ through December 31 of the succeeding year (December 31, 2008). Resolution #07-09-256 Page 1 of2