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Res 2005- 65 Ordering Prep for Somerset Projects( City of Mendota Heights Dakota County, Minnesota RESOLUTION NO. 05-65 RESOLUTION DECLARING COSTS TO BE ASSESSED, ORDERING THE PREPARATION OF PROPOSED ASSESSMENT ROLL, AND ESTABLISHING THE DATE OF THE ASSESSMENT HEARING FOR SOMERSET NEIGHBORHOOD STREET RECONSTRUCTION PROJECT (IMPROVEMENT NO. 2004-01) AND THE SOMERSET COURT REHABILITATION PROJECT (IMPROVEMENT NO. 2004-03) WHEREAS, a contract has been let and costs have been determined for the reconstruction 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 Norma Lane and the contract price for such improvements is $1,455,530 and the expenses incurred or to be incurred in the making of such improvements amount to $436,650 so that the total cost of the improvements will be $1,892,180. NOW THEREFORE, IT IS HEREBY RESOLVED by the City Council of the City of Mendota Heights, Minnesota, as follows: The portion of the cost of such improvements to be paid by the City is hereby declared to be $1,456,166 and the portion of the cost to be assessed against the benefited property owners is declared to be $435,014. 2. Assessments shall be payable in equal annual installments extending over a period of 10 years for Somerset Court Street Rehabilitation and 19 years for Somerset Neighborhood Street Reconstruction. 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. 3. 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 20th day of September, 2005, in the City Council Chambers at 7:30 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 Manager 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`h day of August, 2005. ATTEST: K, hleen M. Swanson, City Clerk CITY COUNCIL CITY OF MENDOTA HEIG TS By