2013-055 Ordering Preparation of Proposed AssessmentsCITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION 2013-055
RESOLUTION DECLARING COST TO BE ASSESSED, AND ORDERING
PREPARATION OF PROPOSED ASSESSMENT
WHEREAS, costs have been determined for the improvement of West Park Road and 21s'
Avenue North, and miscellaneous street, utility and sidewalk work, and the price for such
improvement is $504,000, and the expenses incurred or to be incurred in the making of such
improvement amount to $246,000 so that the total cost of the improvement will be $750,000.
NOW, THEREFORE, BE IT RESOLVED by the City Council of Hopkins, Minnesota,
that:
1. The portion of the cost of such improvement to be paid by the city is hereby declared to
be $603,000 and the portion of the cost to be assessed against benefited property owners
is declared to be $147,000.
2. Assessments shall be payable in equal annual installments extending over a period of 15
years, the first of the installments to be payable on or after the first Monday in January,
2015, and shall bear interest at the rate 2 percentage points above the true interest cost of
the bonds sold for this project per annum from June 1, 2014.
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 of the City of Hopkins this 3rd day of September, 2013.
By:
d-
Eugentl'J-. well, Mayor
ATT T:
r
Kristine A. Luedke, City Clerk