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Res 2008-72 Assessments for Kay Ave/Walsh Ln ReconCity of Mendota Heights Dakota County, Minnesota RESOLUTION NO. 08 -72 RESOLUTION ADOPTING AND CONFIRMING ASSESSMENTS FOR THE AVENUES & KAY AVENUEIWALSH LANE RECONSTRUCTION PROJECT (PROJECT #200802, IMPROVEMENT NO. 2008-01) WHEREAS, pursuant to proper notice duly given as required by law, the Mendota Heights City Council has met and heard and passed upon all objections to the proposed assessment for the reconstruction of 1" Avenue, 2nd Avenue, 3rd Avenue, 4th Avenue, Clement Street from 3rd Avenue to Emerson Avenue, Vandall Street from 1St Avenue to 4th Avenue, Laura Street from Brookside Lane to 2nd Avenue, Kay Avenue from Walsh Lane to Victoria Road and Walsh Lane from 160 feet south of Stratford (Project #200802, Improvement No. 2008 -01). NOW :1 1' RESOLVED BY THE 1 OF 1 11 HEIGHTS, 11 1 1. Such proposed assessments, copies of which are attached hereto and made a part hereof, is 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 proposed improvement in the amount of the assessment levied against it. 2. Such assessment shall be payable in equal annual principal installments extending over a period of 19 years. The first of the installments shall be the annual principal plus interest calculated from the public hearing date to the end of this year plus twelve months of the next year and shall bear interest at the rate of 6% per annum from the date of the adoption of the assessment resolution. To each subsequent installment when due shall be added interest for one year on all unpaid installments. 3. The owner of any property so assessed may, at any time prior to certification of the assessment to the county auditor, pay the whole of the assessment on such property, with interest accrued to the date of payment, to the city treasurer, except that no interest shall be charged if the entire assessment is paid within 30 days from the adoption of this resolution. The property owner may, at any time thereafter, pay to the City Finance Director the entire amount of the assessment remaining unpaid, excepting the installment portion appearing upon the current year's property tax statement. 4. The City Clerk shall prepare and transmit to the County Auditor a certified duplicate of said assessment rolls with each then unpaid installment and interest set forth separately, to be extended upon the proper tax lists of the County, and the County Auditor shall thereafter collect said assessments in the manner provided by law. Adopted by the City Council of the City of Mendota Heights this 7th day of October, 2008. CITY COUNCIL C] ATTEST: K thleen M. Swanson, City Clerk