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78-049
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78-049
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5/8/2007 1:07:15 PM
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<br />. <br /> <br />. <br /> <br />.. <br /> <br />streets being concrete curb and gutter with bituminous surfacing <br />over the area known as the Chatham Development. <br /> <br />MAYOR CREPEAU: Could you give us the perimeter. <br /> <br />MR. CHRISTOFFERSEN: <br />vard on the west, COunty <br />on the east, and the Soo <br /> <br />It's bounded by New Brighton Boule- <br />Road E-2 on the north, Old Highway 10 <br />Line Railroad on the south. <br /> <br />MAYOR CREPEAU: Then, Mr. Peter Popovich, our fiscal con- <br />sultant, will you explain the financing. <br /> <br />MR. POPOVICH: The total cost of this improvement is <br />$771,192.00. It's lOO% assessed. The matter was petitioned <br />for 100%. The total cost is being assessed according to the <br />request of the property owners. All of the lots in Chatham <br />Second Addition will be assessed at $5,275.00 each and the <br />remaining balance is spread equally over Chatham First and <br />Fourth at the rate of $5,119.51. This is at the request, as I <br />indicated, of the developer. <br /> <br />This will be spread over a 20 year period of time with an <br />8% carrying charge. Assuming the roll is adopted tonight, <br />there will be 30 days that they can pay wi thout any interest <br />penalty and then the roll will be certified and the first <br />principal and interest will commence in 1979, and, of course, <br />there's a right of prepayment without interest during the 20 <br />year period if they pay to the end of the year if they decide <br />not to do it during the next 30 day period. <br /> <br />The Mayor announced that the meeting was open for the con- <br /> <br />sideration of objections, if any, to said proposed assessment. <br /> <br />All persons present were then given the opportunity to present <br />oral objections, and all written objections theretofore filed <br />with the City Clerk Administrator were presented and considered, <br />and all such objections were tabulated as follows: <br />There were no written communications and no one appeared <br />to be heard. <br /> <br />Councilman Wingert then introduced the following resolution <br />and moved its adoption: <br /> <br />RESOLUTION NO. <br /> <br />7/-1'1 <br />, <br /> <br />RESOLUTION ADOPTING AND CONFIRMING <br />ASSESSMENTS FOR IMPROVEMENT NO. SS-W-P-77-l <br />
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