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RESOLUTION #87-20 WHEREAS, a contract has been let for the improvement of Peltier Lake Drive, Mill Road, Center Street, Shad Avenue, Tourville Circle, Centerville Road and Peltier Lake Drive by ~treet reconstruction and the contract price for such improvement is $420,324.66, and expenses incurred or to be incurred in the making of such improvement amount to $161,179.52 so that the cost of the improvement will be $581,504.18. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CENTERVILLE, MINNESOTA; 1. The portion of the cost of such improvement to be paid by the city is hereby declared to be $0.00 and the portion of the cost to be assessed against benefited property owners is declared to be $581,504.18. 2. Assessments shall be payable in extending over a period of 15 installments to be payable on or January, 1988, and shall bear an per annum from the date of the resolution. equal annual installments years, the first of the before the first Monday in interest rate of 8.3 per cent adapt ion of the assessment I 3. The City Clerk, with the assistance of the City Engineer shall forthwith calculate the proper amount to be speciallY assessed for such improvement aaainst every assessable lot, piece or' parcel of land within the district affected, without reaard to cash valuation, as provided by law, and she shall file a copy of such proposed assessment in her office for public inspectJ,on. .. The Clerk shall upon the completion of assessment, notify the Council thereof. such proposed Adapted by the Council this 12th day of Auaust, 1987. ~I<. Mayor Y/~'q1.- ATTEST: ~~mtr~11tt ~4f" · . -srlt/'l're.. - e -.-. l.