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Res 2008-61 Assessment Prep for Somerset Pk OverlayCity of Mendota Heights Dakota County, Minnesota RESOLUTION NO. 08 -61 RESOLUTION DECLARING COSTS TO BE ASSESSED, ORDERING THE PREPARATION OF PROPOSED ASSESSMENT ROLL, AND ESTABLISHING THE DATE OF THE ASSESSMENT HEARING FOR THE SOMERSET PARK/EVERGREEN KNOLL REHABILITATION MILL & OVERLAY PROJECT (IMPROVEMENT NO. 200802) WHEREAS, a contract has been let and costs have been determined for the construction of Somerset Park/Evergreen Knoll Rehabilitation Mill & Overlay Project, including a 1' /z inch bituminous pavement mill and overlay and other appurtenant work and the total contract price for such improvements is $531,204.00. NOW THEREFORE, IT IS HEREBY RESOLVED by the City Council of the City of Mendota Heights, Minnesota, as follows: 1. The portion of the cost to be assessed against the benefited property owners is declared to be $163,650.00 2. Assessments shall be payable in equal annual installments extending over a period of 10 years for Somerset Park/Evergreen Knoll Rehabilitation Mill & Overlay Project. The first installment 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. That the City Clerk, with the aid and 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 she shall file a copy of such proposed assessment in her office for public inspection. 4. The City Clerk shall upon the completion of such proposed assessment notify the City Council thereof. 5. A public hearing shall be held on the 7' day of October, 2008, in the City Council Chambers at 7:00 P.M. or as soon as possible thereafter to pass upon such proposed assessment and at such time and place all persons owning property affected by such improvement will be given the opportunity to be heard with reference to such assessment. 6. The City Clerk is hereby directed to cause a notice of the public hearing on the proposed assessment to be published once in the official newspaper of the City at least two weeks prior to the hearing, and the City Administrator shall also cause mailed notice to be given to the owner of each parcel described in the assessment roll not less than two weeks prior to the hearing. 7. 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 Finance Director, except that no interest will be charged if the entire assessment is paid within 30 days from the adoption of the assessment. 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. Adopted by the City Council of the City of Mendota Heights this 16`' day of September, 2008. ATTEST: Kallileen M. Swanson, City Clerk CITY COUNCIL CITY OF >TEND-JOTA HEIGHTS Mayor