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. . . ARDEN HILLS CITY COUNCIL - MARCH 30. 1998 11 the Council's judgement that the project does benefit the property regardless of driveway access and rejection of the appeal is consistent with previous Council action. The motion carried unanimously (4-0), MOTION: Councilmember Malone moved and Councilmember Hicks seconded a motion to reject the appeal by Coletta Sayre, 4001 Fairview Avenue N., indicating that the cost is too high and objecting to installation of curb and gutter, because the Council believes the cost is consist with the benefit and the appeal was based on the prior assessment anlOLmt noticed to them which has already been substantially reduced and the Council has detemlined to fund stormwater system costs from the SWM Fund. The motion carried unanimously (4-0). MOTION: Councilmember Hicks moved and Councilmember Aplikowski seconded a motion to adopt Resolution #98-34, Adopting Pinal Bituminous Overlay, Assessment Roll, 5 year Amortization with an interest rate of 8% simple interest. Councilmember Aplikowski stated that while this has been discussed several times she believes, for the good of the City, the interest rate should not be anything other than eight percent. Councilmember Hicks pointed out that the interest rate climate is not different from the last two or three years which were at eight percent and financed via the City's budget. He stated that it would not be fair to consider a lower interest rate this year. The motion carried unanimously (4-0). C. Resolution #98-35, Adopting Final Reconstruction Assessment Roll, 5 year Amortization It was noted that the Council is asked to adopt Resolution #98-35 which would adopt the final reconstruction assessment roll with a five year amortization. This roll is specific to those property owners being assessed less than $3,500 for five years. MOTION: Councilmember Hicks moved and Councilmember Aplikowski seconded a motion to adopt Resolution #98-35, Adopting Final Bituminous Overlay, Assessment Roll, 5 year Amortization with an interest rate of 8% simple interest. The motion carried unanimously (4-0). D. Resolution #98-36, Adopting Final Reconstruction Assessment Roll, 8 year Amortization It was noted that the Council is asked to adopt Resolution #98-36 which would adopt the final reconstruction assessment roll with an eight-year amortization for those property owners being assessed an amount equal to or greater than $3,500 for eight years.