City Council Resolution 2002-58RESOLUTION NO. 2002-58
RESOLUTION DECLARING COST TO BE ASSESSED, ORDERING
PREPARATION OF PROPOSED ASSESSMENT AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT
WALNUT STREET CORRIDOR IMPROVEMENTS
PROJECT NO. 2000-17C
WHEREAS, costs have been determined for the improvement of a nine block area bounded on the north by
4`" Street, on the south by 7"' Street, on the east by TH 25 and on the west by Walnut Street by the
installation of concrete sidewalks, bituminous pathway, street lighting, boulevard improvements and other
appurtenant work and the contract price for such improvement is $430,675 and the expenses incurred or to
be incurred in the making of such improvement amount to $89,793 so that the total cost of the improvement
will be $520,468,
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF MONTICELLO,
MINNESOTA:
The portion of the cost of such improvement to be paid by the City is hereby declared to be
$293,544 and the portion of the cost to be assessed against benefitted property owners is
declared to be $226,924.
2. Assessments shall be payable in equal annual installments extending over a period of ten
years, the first of the installments to be payable on or before the first Monday in January, 2003
and shall bear interest at the rate of 6.5.0% per annum from the date of the adoption of the
assessment resolution.
3. The City Administrator with the assistance of the City Engineer, shall forthwith calculate the
proper amount to be specially assessed for such improvement against every assessable lot, piece
or parcel of land within the district affected, without regard to cash valuation, as provided by law,
and the City Administrator shall file a copy of such proposed assessment in his office for
public inspection.
4. The City Administrator upon the completion of such proposed assessment, notify the City
Council thereof.
Adopted by the Monticello City Council this 9" day of September, 2002.
Ro r Belsaas, Mayor
ATTEST:
iV
Rick Wolfsteller, City(/Administrator