City Council Resolution 2002-59RESOLUTION NO. 2002-59
RESOLUTION DECLARING COST TO BE ASSESSED, ORDERING
PREPARATION OF PROPOSED ASSESSMENT AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT
7" STREET IMPROVEMENTS
PROJECT NO. 2001-07C
WHEREAS, costs have been determined for the improvement of 7t" Street East between Washington Street
and Cedar Street by street reconstruction, installation of curb and gutter, sidewalk improvements and other
appurtenant work and the contract price for such improvement is $415,393.86 and the expenses incurred or
to be incurred in the making of such improvement amount to $110,323.19 so that the total cost of the
improvement will be $525,717.05
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
$130,717.05 and the portion of the cost to be assessed against benefitted property owners is
declared to be $395,000.00.
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.
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.
relsaas,- Mayor
ATTEST:
Rick Wolfsteller, C y Administrator