2020-008 Declaring Cost to be Assessed, and Ordering Preparation of Proposed Assessment CITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION 2020-008
RESOLUTION DECLARING COST TO BE ASSESSED, AND ORDERING
PREPARATION OF PROPOSED ASSESSMENT
WHEREAS, costs have been determined for the improvements along Preston Lane, Boyce
Street, Goodrich Street, Ashley Road, Holly Road, Oakwood Road, Maple Hill Road, Homedale
Road, Hawthorne Road, Meadowbrook Road, and Blake Road from Spruce Road to Boyce
Street, including pavement, curbing, signage, drainage, water and sanitary sewer improvements
and all necessary appurtenances and the bid price for such improvement is $13,083,245.65, and
the expenses incurred or to be incurred in the making of such improvement including
construction contingencies and soft costs amount to $3,914,754.35 so that the total cost of the
improvement will be $17,000,000.00.
NOW, THEREFORE, BE IT RESOLVED by the City Council of Hopkins, Minnesota, that:
l. The portion of the cost of such improvement to be paid by the city is hereby declared to
be $14,022,632.24, the portion of the cost to be assessed against benefited property
owners is declared to be $2,977,367.76.
2. Assessments shall be payable in equal annual installments extending over a period of l 5
years, the first of the installments to be payable on or after the first Monday in January,
2021, and shall bear interest at the rate 2 percentage points above the true interest cost of
the bonds sold for this project.
3. The city clerk, with the assistance of the city 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 she shall file a copy of such proposed assessment in 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 18th day of February, 2020.
�
, son Gadd, Mayor
Amy Dom ier, City Clerk