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ARZEN HILLS CITY OF ARDEN HILLS COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION NO. 2018-027 RESOLUTION DECLARING COSTS TO BE ASSESSED AND ORDERING PREPARATION OF PROPOSED ASSESSMENTS AND CALLING FOR HEARING ON THE PROPOSED ASSESSMENTS WHEREAS, a contract has been let for the proposed 2018 Street and Utility Improvement Project, the improvement of Wedgewood Circle, Parkshore Drive, Brueberry Lane, Indian Oaks Court, Indian Oaks Trail, Floral Drive,Norma Circle, Gale Circle, and James Circle and the contract bid price for such improvement is $2,491,595.86, and the expenses incurred or to be incurred in the making of such improvement amount to $848,804.14 so that the total cost of the improvement will be $3,340,400.00, and WHEREAS, the City Clerk, with the assistance of the City Engineer, has prepared a proposed assessment of the cost of the improvement, and WHEREAS, the City Clerk has notified the City Council that such proposed assessment has been completed and filed at City Hall for public inspection. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF ARDEN HILLS, MINNESOTA: 1. The portion of the cost of such improvement to be paid by the City is hereby declared to be $2,489,949.96. The portion of the cost to be assessed against benefited property owners is declared to be $850,450.04. 2. Assessments shall be payable in equal annual installments extending over a period of 10 years, the first of the installments to be payable with property taxes for the year 2019, and shall bear interest of 5% from date of the adoption of the assessment resolution. 3. The City Clerk, with the 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 shall file a copy of such proposed assessment in her office for public inspection; and BE IT FURTHER RESOLVED BY THE CITY COUNCIL OF ARDEN HILLS, MINNESOTA: 1. A hearing shall be held on Monday, May 14, 2018, in the Council Chambers at 7:00 p.m. or as soon thereafter as possible, to pass upon such proposed assessment and at such time and place all persons owning property affected by such improvement will be given an opportunity to be heard with reference to such assessment.