CC 08-28-1978 - Laserfiche WebLink

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streets being concrete curb and gutter with bituminous surfacing over the area known as the Chatham Developmenta MAYOR CREPEAU: Could you give us the perimeter, P�iR, CHRISTOFFERSENe I�°s bounded by New Brighton Boule- • vard on the west, County Road E-2 on the north, Old xighway 10 on the east, and the Soo Line Railroad on the south, A4AYOR CREPEAU; Then, Mr, Peter Popovich, our fiscal con- sultant, �aill you explain the financing. MR, POPOVICH� The total cost of this improvement is $771,192s00a It°s 100% assessed, The matter �aas petitioned for 100�, The total cost is being assessed according to the request af the property owners, All of the lots in Chatham Second Addition will be assessed at $5,275e00 each and the remaining balance is spread equally over Chatham First and Fourth at the rate of $5,119e51, This is at the request, as I indicated, of the developer, This will be spread over a 20 year period of time eaith an 8� carrying charge, Assuming the roll is adopted tonight, there will be 30 days that th2y can pay without any interest penalty and then the roll will be certified and the first principal and interest will commence in 1979, and, of course, there's a right of prepayment without interest during the 20 year period if they pay to the end of the year if they decide not to do it during the next 30 day period, The Mayor announced that the meeting was open for the con- sideration of objections, if any, to said proposed assessment, All persons present were then given the opportunity to present oral objections, and all written objections theretofore filed with the City Clerk Administrator were presented and considered, and all such objections were tabulated as followsa There were no written communications and no one appeared to be heard, Councilman Wingert then introduced the following resolution and moved its adoption; • RESOLUTTOiQ NO, ?� �y RESOLUTIOV ADOPTIi4G AIdD CONFIRY�IING ASSESSMENTS FOR IMYROVEMENT NO, SS—�r1—P-77-1