City Council Resolution 2015-36CITY OF MONTICELLO
WRIGHT COUNTY, MINNESOTA
RESOLUTION NO. 2015-036
DECLARING COSTS TO BE ASSESSED, ORDERING PREPARATION OF
ASSESSMENT ROLL FOR NORTHERN STATES POWER COMPANY
DBA XCEL ENERGY — FIRST LAKE SUBSTATION
WHEREAS, the owner is the owner of that certain parcel of real property situated in
Wright County, Minnesota, legally described as Exhibit "A" attached hereto and
incorporated herein ( "Subject Property ").
WHEREAS, the owner acknowledges that the Subject Property will benefit from the
City providing municipal governmental services including roadway, sidewalk, street lighting,
sanitary sewer, water and utilities for the extension of School Boulevard /Dalton Avenue
fronting the Subject Property ( "Project ").
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF MONTICELLO, MINNESOTA AS FOLLOWS:
1. The Subject Property will hereby be assessed in the future by the City for the
Project in the amount of One Hundred Ninety -eight Thousand Four Hundred ($198,400) Dollars,
and the City and Owner agree that this amount shall be assessed by the City in connection with
the Project. This amount shall be assessed against the Subject Property payable over ten (10)
years, including interest at the rate of the Prime Rate of Interest plus two percent (2 %) per
annum computed on the unpaid balance. The first installment of the assessment will become
payable upon substantial completion of the street extension contract. Prime Rate shall be the
prime rate announced daily in the Wall Street Journal ( "Prime Rate "). If the Wall Street Journal
ceases to publish the Prime Rate, then the Prime Rate shall be the rate of interest quoted in the
Federal Reserve Statistical Release, Selected Interest Rates (H.R. 15). If a range is shown for
the Prime Rate, then the highest number in the range shall be utilized.
2. The Assessments shall be deemed adopted on the date this Agreement is signed
by the City. The Owner, by signing this Agreement, acknowledges that all procedural and
substantive objections to the Assessment are hereby waived unconditionally, such waiver
includes any rights of Owner, its successors or assigns to hearing requirements and any claim
that the assessments exceed the benefit to the Subject Property. The Owner further waives any
appeal rights otherwise available pursuant to Minnesota Statutes Section 429.081. If the actual
construction costs differ from the current estimates, the City reserves the right to reassess or to
proceed with a supplemental assessment as authorized by Minnesota Statutes § 429.071 and
Owner preserves its appeal rights pursuant to § 429.081 regarding any supplemental or
reassessment.
3. Owner will convey to the City at no cost contemporaneously with the execution of
this Agreement, the temporary and permanent easements necessary for the Project. All or any
portion of the permanent easements granted herein shall be released upon the dedication of a
corresponding easement on any future plat. The easements shall include the necessary consents
from any mortgagee or other party having an interest in the easement area.
IN WITNESS WHEREOF, as of the day and year first hereinabove written, the parties
have executed this Agreement.
CITY OF MONTICELLO
By: Zil
Brian Stumpf, Its yor
(SEAL)
And
of eill, Its City Administrator
STATE OF MINNESOTA
( SS.
COUNTY OF WRIGHT )
Tie foregoing instrument was acknowledged before me this y of
2015, by Brian Stumpf and by Jeff O'Neill, the Mayor and City Administrator
of keTity of Monticello, a Minnesota municipal corporation, on behalf of the corporation and
pursuant to the authority granted by its City Council.
l � c
Notary Pu lic
KERRY I BURRI
NOTARY PUBLIC - MINNESOTA
�My Commission Expires Jan. 31, 2020
EXHIBIT A
Legal Description
That part of the Southwest Quarter of the Southwest Quarter of Section 10, all in Township 121 North,
Range 25 West, Wright County, Minnesota, described as follows: The North 544.51 feet of the West
799.29 feet of the Southwest Quarter of the Southwest Quarter of Section 10, Township 121 North, Range
25 West, Wright County, Minnesota.
Subject to easements of record.
Abstract property.