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$ 60,008.51 so that the total cost of the improvements will be $ 252,498.29 , and of this cost the City will pay $138,280.51 as its share of the cost. NOW THEREFORE, be it resolved by the City Council of the City of Roseville, Minnesota as follows: 1. The cost to be specifically assessed is hereby declared to be $ 114,217.78 2~ The total amount of the assessment shall be payable in equal annual principal installments extending over a period of 15 years, the first of said installments, together with interest on the entire assessment at the rate of 8.95% from the date of the adoption of the assessment to December 31, 1988, to be payable with general taxes for the year 1987, collectible in 1988, and one of each of the remaining installments, together with one year's interest on that and all other unpaid installments at that same interest rate, to be payable with general taxes for each consecutive year thereafter until the entire assessment is paid. 3. The City Manager, together with the assistance of the City Pubic Works Director, shall forthwith calculate the proper amount to be specifically assessed for such work against every assessable lot, piece or parcel of land within the improvements 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. The City Manager may arrange for the assistance of the Data Processing Division of the County of Ramsey in the preparation of the proposed assessment roll. 4. The City Manager shall, upon completion of such proposed assessment, notify the Council thereof for their further action and for their setting of an assessment hearing therefor. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember Cushman and upon roll call vote being taken thereon, the following voted in favor thereof: All present; and the following voted against the same: None. Whereupon said resolution was declared dUly passed and adopted. -2-