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CITY OF GEM LAKE RAMSEY COUNTY, MINNESOTA RESOLUTION NUMBER 2015 - 22 A RESOLUTION FOR RESOLUTION DECLARING COST TO BE ASSESSED, AND ORDERING PREPARATION OF PROPOSED ASSESSMENT WHEREAS, a contract has been let (estimated costs have been calculated) for the Water Main Extension Improvement Project, the improvement a municipal water main along County Road E between Hoffman Road East in White Bear Lake and Scheuneman Road in Gem Lake by the City of Gem Lake and the contract (bid) price (estimated cost) for such improvement is $387,838.00, and the expenses incurred or to be incurred in the making of such improvement amount to $122,162 so that the total cost of the improvement will be $510,000. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF GEM LAKE, MINNESOTA: The portion of the cost of such improvement to be paid by the city is hereby declared to be $0 and the portion of the cost to be assessed against benefited property owners is declared to be $510,000. 2. Assessments shall be payable in equal annual installments extending over a period of 10 years, the first of the installments to be payable on or before the first Monday in January, 2016, and shall bear interest at the rate of 2.75 percent per annum from the date of the adoption of the assessment resolution. 3. The city clerk, with the assistance of the city engineer (consulting engineer), shall forthwith calculate the proper amount to be specially assessed for such improvement against every assessable lot, piece or parcel of land within the district affected, without regard to cash valuation, as provided by law, and he/she shall file a copy of such proposed assessment in his/her office for public inspection. 4. The clerk shall upon the completion of such proposed assessment, notify the council thereof. ADOPTED by the City Council this 20th day of October, 2015. CITY OF GEM LAKE By: _ --�- Robert Uzpen, Ma ATTEST: William Short, City Administrator/Clerk 1 based on 429.03 i, snbd. 1 League of Minnesota Cities