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Res 2005- 84 assessments for Somerset Street ReconstructionCity of Mendota Heights Dakota County, Minnesota RESOLUTION NO. 05 - 84 RESOLUTION ADOPTING AND CONFIRMING ASSESSMENTS FOR THE SOMERSET NEIGHBORHOOD (IMPROVEMENT NO. 2004 -1) AND SOMERSET COURT (IMPROVEMENT NO. 2004 -3) STREET RECONSTRUCTION PROJECTS 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 improvement of the Somerset Neighborhood streets, including Emerson Avenue, Coleshire Lane, Staples Avenue, Mears Avenue, Somerset Road, Dorset Road, Hingham Circle, Beebe Avenue, Ashley Lane, and Noma Lane (Improvement No. 2004 -1) and Somerset Court improvements (Improvement No. 2004 -3). NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF MENDOTA HEIGHTS, MINNESOTA: 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 installments extending over a period of 19 years for Somerset Neighborhood and 10 years for Somerset Court, 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 20th day of September, 2005. ATTEST: thleen M. Swanson, City Clerk CITY COUNCIL CITY OF MENDOTA HEIGHTS