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<br />MR. HOLEWA: Do we know how many properties there are <br />involved? <br /> <br />. <br /> <br />MR. POPOVICH: I'm sure the engineer does. How many <br />notices did you mail out? <br /> <br />MRS. McNIESH: I have it somewhere. <br /> <br />MR. POPOVICH: The Clerk mailed out a certificate <br />(inaudible). <br /> <br />MR. HOLEWA: How would an assessment like that be handled? <br />Would it be by a formula or what? <br /> <br />MR. POPOVICH: Yes, it's a formula that would be arrived <br />at and then at the assessment hearing that formula would then <br />be explained. It could be a front foot cost - that's usually <br />what it is - you take the total amount and divide it and come <br />up with a front foot cost. Or it could be, if they were all <br />lots, a lot unit charge. There are a number of ways to come <br />up with it, depending ,on what the engineers would recommend. <br /> <br />MRS. McNIESH: There were 22 notices that. I sent out. <br />Of course, some of them have gceater frontage than others. <br /> <br />MR. HOLEWA: Is that 22 that abut Lexington or in the <br />proximity? <br /> <br />- <br /> <br />MRS. McNIESH: I assume that they are ones that abut. <br /> <br />MR. POPOVICH: They may be behind. They're within that <br />legal area that the engineer gave us. <br /> <br />MR. HOLEWA: Now you said that they would have to assess <br />20% according to State law, or they would be able to do some- <br />thing else - have an election or something. <br /> <br />. <br /> <br />MR. POPOVI'CH: \'ou can always have an e1e<::tion - Shall <br />we issue bonds to improve Lexington Avenue in the amount not <br />exceeding $66,000 - but no City ever does because you have <br />to pull in your whole big City to vote on a little project. <br />That's the reason the legislature gave Councils the authority <br />to issue bonds without a vote, if they assess 20% and had <br />the public hearing and had input from the people. That's <br />what the Council is doing here. The question is, where do <br />they get the money to cover the approximate estimated cost <br />of $66,000. If they have it on hand, of if they get a gift, <br />or if they have interest earnings - there are a number of <br />places - MSA funds or tax funds - if they have extra unappro- <br />priated balances, they may want to use them. <br /> <br />MR. HOLEWA: The last item on your finances - I didn't <br />quite understand that. <br /> <br />-9- <br />