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<br />4~'....." . <br />~ <br /> <br />.. <br />" <br /> <br />, <br /> <br />~ <br /> <br />2 <br /> <br />sewer and sanitary sewer services, water services, streets, <br />and drainage. The streets include concrete curb and gutter and <br />bituminous surfacing. <br /> <br />MAYOR CREPEAU: Mr. Popovich, our fiscal consultant, would <br />you briefly explain the financing. <br /> <br />MR. POPOVICH: This improvement was petitioned f0r by <br />100% of the pr0perty' owners so it wasn't necessary to have the <br />normal feasibility hearing. The total cost of the . improvement <br />ended up at $76,982.62. There are 11 lots inVGlved so 'that <br />figure was divided byll'to bring the per lot assessments as <br />follows: $2,193.36 for .sanitary seweri $538.07 for Water <br />servicei and $4,266.99 for the street and storm sewer, for a <br />total of $6,998.42 a lot. It's really a unit charge.They~re <br />all assessed a like amount since they're part of the subdivision. <br /> <br />We have sold no bonds. The matter has been financed <br />internally, but now we have to make the assessment so you.will <br />have to come up with an assessment that the people will pay. <br />We're recounnending it be spread over a 20-year.peri0dwith 8% <br />for the assessment carrying charge. If we had issued bonds, the <br />new law permits you to have 1% over the bond issue interest. <br />For example, Roseville just .sold bonds at 7.63% which means <br />they could charge 8.63%. If you haven't sold any bonds, you're <br />limited to 8%. <br /> <br />MAYOR CREPEAU: The meeting is open to comments. <br /> <br />MR. Me CLUNG: I have no objections. I am satisfied with <br />the work and I feel that the amount is the correct amount. <br /> <br />MAYOR CREPEAU: Very well. If there are no changes I. will <br />entertain a motion to adopt the resolution confirming the <br />