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. _3 e STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF ARDEN HILLS RESOLUTION 96-27 A RESOLUTION FOR THE CITY OF ARDEN HILLS A RESOLUTION DETERMINING ASSESSED COSTS OF IMPROVEMENT AND ORDERING PREPARATION OF PROPOSED ASSESSMENT ROLL IN THE MATTER OF THE STREET IMPROVEMENTS PROJECT OF 1996 WHEREAS, costs have been determined for the 1996 Street Improvements consisting of a contract price of $379,973.43 and expenses incurred or to be incurred by the City in the making of the improvement in the amount of$121,591.50 for a total cost ofthe improvement of$501,564,93, NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Arden Hills, Minnesota: 1. Based upon the City Assessment Policies, it is determined that the portion of this improvement to be paid by the City and not assessed to benefitted properties is $250,782.47, 2, The portion of the cost to be assessed against benefitted properties pursuant to the Arden Hills City Assessment Policies shall be $250,782.46. The assessments shall be payable in equal annual installments and shall extend over a period offive years for those assessments less than or equal to $3,500. or eight years for those assessments greater than $3,500; the first of the installments to be payable on or before the first Monday in January, 1997, with interest at the rate of 8% per annum from the date ofthe adoption of the assessment resolution, 4, The City Administrator with the assistance of the Project Engineer shall forthwith calculate the proper amount to be specially assessed for such improvement against every assessable lot, piece, or parcel of land, without regard to cash valuation, as provided by law, and shall have available at the City Administrator's office a copy ofthe proposed assessment roll for public inspection, 5. A Public Hearing shall be held before the City Council on the proposed assessment roll on the 28th day of May, 1996 at 7:30 p.m, at the New Brighton City HaiL 6, The City Administrator shall provide notice ofthe hearing by publication and mail to be made at least two weeks prior to the hearing. PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF THIS 29TH DAY OF APRIL, 1996. ATTEST: