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six inch watermain along (inaudible), storm sewers along <br />Cleveland Avenue, discharging into a low, marshy area, and also <br />concrete curbs and gutters and bituminous street and grading. <br />MAYOR WOODBURN: This was requested by a suitable majority <br />of the prop�rty owners. I will now ask Mr. Popovich to explain <br />the financing, <br />MR. POPOVICHc Mayox and members of the Council, the <br />total cost of this project is $139,a70.00. �1s you know, it <br />wa5 handled_pursuant to a petition by 1Q0� of :the affected <br />��operty owners. It wi11 be 100g assessed. For 19 lo�s, i:t <br />will amount to $7,361.58 per 1ot. We p�opose - and the <br />notice carries it - to be assessed over a six year period. <br />The improvement has not been included in any bond �ssue as of <br />yet. It's been handled internall.y by Ci.ty financing, but the <br />last bond issue we had, and the other improvements that are <br />on tonight for as:sessments, we're recommending a 10� carrying <br />charge on the as�essments if they�'ze not prepaid. The reason <br />for that is that our bQnd issue came t�ut at 9.01� and we <br />usually charge l� over that. We could go as high as 12� under <br />the �tatute and we're recommending at least that 1� over, so <br />our �rojected interest charge shou'ld be 100. That is our <br />recommendat�.on. The property awners, of cour��, have a right <br />to prepay withi.n 30 days aftez adoption of the asse�sment roll <br />or at any time during that six year periQd and �ave the <br />resulting interest, <br />MAYOR [nI00DSURN; Mrs..McNiesh, do you have any written <br />comments? <br />MRS, McNIESH; None, your Honor, <br />MAYOR WOODBURN: We'11 open the meeting then to coznments <br />£rom the audience on the Hazelnut.Park improvement, Are there <br />�ny? Si.nce the=�e are none, we will elose the public hearinq <br />at thi� tirne and come back to the Council for adoption or <br />nonadop�ion - the Council preference as to assessing this <br />property for the improvement. Any comments from the Council? <br />COU�ICILMAN McALLISTER: How many lots are there? <br />MR. POPOVICH: 19 �$7,3:61.58 per lot. <br />Councilman McAllister then introduced the following <br />resolution and moved its adoption: <br />Resolution No. 83-43a <br />` R�S�LUTION AMENDING ASSESSMENT ROLZ <br />FOR IMPROUEMENT NO. SS-W-P-ST-83-3 <br />BE IT RESOLVED by the City Council of the City of Arden <br />Hilis, DZinnesota, as follows: <br />�. 2 _ <br />