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'It -ARPEN_HILLS CITY OF ARDEN HILLS COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION NO. 2022-014 RESOLUTION DECLARING COSTS TO BE ASSESSED AND ORDERING PREPARATION OF PROPOSED ASSESSMENTS AND CALLING FOR HEARING ON THE PROPOSED ASSESSMENTS WHEREAS, the construction bids have been received for the proposed Snelling Avenue North Street and Utility Improvement Project, the improvement of Snelling Avenue North from Trunk Highway 51 to County Road E, Cummings Lane, and Bussard Court from Snelling Avenue North to 100-Feet West of Snelling Avenue North, and the low bid price for such improvement is $1,277,586, and the expenses incurred or to be incurred in the making of such improvement amount to $344,999 so that the total cost of the improvement will be $1,622,585; and WHEREAS, the City Clerk 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 THAT THE CITY COUNCIL OF THE CITY OF ARDEN HILLS: 1. The portion of the cost of such improvement to be paid by the City is hereby declared to be $1,482,176 The portion of the cost to be assessed against benefited property owners is declared to be $140,409. 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 2022, and shall bear an interest rate of between 4%to 6%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 1 I To view the final document,access adopted Resolutions via Arden Hills Public Laser fiche Weblink by visiting cityofardenhills.org and clicking on Archived Documents under Helpful Links on our main webpage.