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CITY OF GEM LAKE RESOLUTION NO.2006-37 16 October 2006 A RESOLUTION DECLARING COST TO BE ASSESSED AND ORDERING A PREPARATION OF PROPOSED ASSESSMENT ON PROPERTY OWNERS FOR PUBLIC IMPROVEMENT PROJECT NO. 2006-01, BIG FOX ROAD, LITTLE FOX LANE, HAVEN LANE, TESSIER ROAD 2006 STREET IMPROVEMENTS. WHEREAS, the Gem Lake City Council ordered Public Improvement Project No. 2006-01 and supported the work with the sale of General Obligation Improvement Bonds by Resolutions No. 2006-06, 2006-07, 2006-12, 2006-16, 2006-17 and 2006-26 having held all properly noticed public hearings and having provided all properly published and otherwise delivered notices regarding Public Improvement Project to affected property owners; and WHEREAS, costs have been determined for Public Improvement Project No. 2006-01, and the contract price for said improvements is $157,826.14, and the expenses incurred or to be incurred in the making of said improvement which includes every item of cost of the improvement from it's inception to it's completion and all fees and expenses incurred or to be incurred in connection herewith amount to $83,699.69 so that the total cost of the improvement will be $241,525.83; Now, Therefore, Be It RESOLVED, by the City Council of the City of Gem Lake that: I . The portion of the cost to be assessed against benefitted property owners is declared to be $241,525.83; and 2. Assessments shall be payable in equal annual installments extending over a period of ten (10) years, the first of the installments to be payable on or before the first Monday in January, 2007, and shall bear interest at the rate of five (5.0%) percent per annum from the date of adoption of the assessment resolution; and 3. The City Clerk, with the assistance of the City's 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 shall file a copy of such proposed assessment in his office for public inspection; and 4. The City Clerk shall, upon the completion of such proposed assessment, notify the Council thereof. The foregoing Resolution was offered by Councilor Schilling and was supported by Councilor Bosak and was �A lara� #AAnlnd 11AQPA MIM1 the fnllnwinv vote NAME EMEOTT WATSON RASMUSSEN SCHILLING BOSAK VOTE Aye Aye Aye Aye Aye ATTEST I, Frederic C. Magnuson, the duly qualified City Clerk of the City of Gem Lake, County of Ramsey, State of Minnesota, do hereby certify that the foregoing Resolution is a true and accurate representation of action taken by the City Council of the City of Gem Lake on the hate -6 �, z -16- 6c;&Aew 2005 Frederic C. Magnuson, City Clerk Date Certif ieb YCOB e-file: resolution\2006�io2006-37 Page 3 of 4