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,~ MINUTES OF REGULAR COUNCiL MEETiNG Page three August 29. 1977 After determining there ware no questions or comments from the floor, Mayor Crepeau clOsed the Publl~ H~~rlng at 8:36 p.m. Wingert moved. seconded by Hanson, that Council adopt Resolution No. 11-48, RESOLUTiON ADOPTING AND CONFIRMING ASSESSMENTS FOR LITTLE CROW ADJITION. Motion carried unanimously. . Count" Road F. Improvement No. 75-1 Mayor Crepeau opened the Public Hearing on County Road F. Improve- ment No. 75-'. at 8:38 p.m. McNlesh presented an Affadavlt of Pubilcatlon and Certification of Mal led Notices to property owners. Christoffersen explained that Improvement 75-1 consists of curb. gutter and street, water lines and sanitary and storm sewers; Shorevlew and Ramsey County to partlclpate In the cost of the storm sewer. Popovich explained that the total cost of Improvement 75-1 Is $193.860.00; $142.516.47 Is to be assessed to the benefitted proper- ties. payable over a 20 year period at 8%; assessments may be paid in full (or!> within the 30-day prepayment period without Interest. Questions from the Floor: Mr. Dick Larson, 1840 Palace Avenue, St. Paul, representing Mrs. DIRe, who owns about 5 acres at the northwest corner of Lexington and County Road F. asked that Council keep the cost down as much as possible; suggested stretching the assessment period over 30 years. Popovich advised that Council has this prerogative. but the long pay-back may work against the City's rating; 20 years Is a normal period. Crichton noted that Arden Hills has normally assessed roads over a 10-year period: hesitant to go longer than 20 years; have never gone beyond 20 years on any Improvement, nor longer than 10 years on a road Improvement; asked If City can consider a lower Interest rate? Popovich advised that the Interest should be greater than that paid on the bonds; a% Is considered appropriate, but this Is open; only concern Is that It may set a precedent for future assessments; at a% people are encouraged to pre-pay assessments. After dlscusslon~. and after determinIng that there were no further questIons or comments from the floor, Cropeau closed the public hearing at 9:10 p.m. Crichton moved that Council adopt Resolution No. 77..49, RESOLUTiON ADOPTING A~O CONFIRMING ASSESSMENTS FOR COUNTY ROAD F IMPROVEMENT NO. 75-', at a% Interest ~var 20 years. Mot'on was seconded by Wingert and did not carry (CriChton. Wingert voting In favor of the motion; Hanson, Woodburn, Crepeau voting In oppositlonl. . Woodburn moved, seconded by Hanson, that Councl l adopt Resolution No. 77-49, RESOLUTION ADOPTING AND CONFiRMING ASSESSMENTS FOR COUNTY ROAD F IMPROVEMENT NO. 75-1, at 8% Interest over i5 years. Motion carried unanimously. Improvements to be Included In Proposed Bond Issue After discussion of the proposed bond issue. and the re-cap of costs for the various Improvements to be Included In the proposed bond Issue. Woodburn moved. seconded by Hanson. that Council authorize the bond issue to cover Improvements 77-1. 77-2 and 76-1. Motion carried unanimously. Hanson moved, seconded by Crichton, that Councl~ set the date for the Bond Sale on 'Tuesday, October lith; bids to be opened at 4:00 p.m. at the office of Peterson and Popovich, 314 Minnesota Building, St. Pau'. Minnesota 55101; bids to be considered by Council at a:oo p.m. at the Village Hall. Motion carried unanimOUSly. (Resolution No. 77-50 attached.J -3-