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7/17/2007 9:07:06 AM
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4/23/2005 4:45:53 PM
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Roseville City Council
Document Type
Council Resolutions
Resolution #
497
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<br />RESOLUTION RELATING TO SANITARY SEI-JER NO. 497 <br />IMPROVEMENT NO. 3 AND ProVIDING GENERAL <br />TAX LEVIES THEREFOR <br /> <br />BE IT RESOLVED by the Village Council of the Village of I~seville, as <br /> <br />follows: <br /> <br />1. The total cost of the completion of Sanitary Sewer Improvement No. 3 <br /> <br />in accordance with the plans and specifications heretofore approved, and the <br /> <br />contracts heretofore entered into therefor, has now been ascertained to be approx- <br /> <br />imately Two Million Three Hundred Seventy-one Thousand Five Hundred Eighty-six <br /> <br />and 31/100 Dollars (2,371,586.31) of which the sum of $2,000,000 has been <br /> <br />borrowed by the issuance of Sanitary Sewer Improvement Bonds, Series G dated <br /> <br />June 1, 1960, and Series H dated October 1, 1960. The remainder of such cost <br /> <br />has been or will be paid out of funds on hand and properly available therefor, incl- <br /> <br />uding proceeds of any other improvement bonds in excess of the cost of any previous <br /> <br />improvement as finally ascertained, including sums, contributions and revenues <br /> <br />from any other source. Included in said total cost figure are sums representing <br /> <br />interest accrued on the money borrowed for said improvement which interest is a <br /> <br />necessary cost of said improvement, proper to be included in special assessments <br /> <br />and taxes levied therefor. The Village has provided for the payment of not less <br /> <br />than $1,908,850.43 of the total cost of Sanitary Sewer Improvement No. 3 by the <br /> <br />levy of special assessments upon all properties within the area heretofore <br /> <br />determined to be assessable for said improvement in amounts proportionate to and <br /> <br />not exceeding the special benefits determined to be derived from said improvement <br /> <br />by each of respective properties, which assessments shall be spread upon the tax <br /> <br />rolls of the village in each consecutive year commencing in 1961, in 20 equal <br /> <br />annual installments, with interest at the rate of 5% per annum on the "balance <br /> <br />thereof from time to time remaining unpaid; the first installment to include <br /> <br />interest from the date of levy of said special assessments to December 31, 1962, <br />
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