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2003-024 CITY OF HOPKINS HENNEPIN COUNTY, MINNESOTA RESOLUTION NO. 2003-024 RESOLUTION ADOPTING ASSESSMENT ROLL 2003 STREET AND UTILITY IMPROVEMENT PROJECT CITY PROJECT 02-10 WHEREAS, pursuant to proper notice duly given as required by law, the City Council has met and heard and passed upon all objections to the proposed assessment for the street improvements on 5th Avenue from 3rd Street South to State Trunk Highway 7, 2nd Street North from 5th Avenue North to 6th Avenue North, as described in the files of the City Clerk as Project 02-10. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Hopkins, Minnesota: 1. Such proposed assessment, as may be amended and a copy of which is attached hereto and made a part hereof, is hereby accepted and shall constitute the special assessment against the lands named therein, and each tract of land therein included is hereby found to be benefited by the proposed improvement in the amount of the assessment levied against it. 2. Such assessment shall be payable in equal annual installments extending over a period of ten years, the first of the installments to be payable on or after the first Monday in January 2004, and shall bear interest at the rate of 7 percent per annum from the date of the adoption of this assessment resolution. To the first installment shall be added interest on the entire assessment from March 18, 2003, until December 31, 2004. To each subsequent installment when due shall be added interest from one year on all unpaid installments. 3. It is hereby declared to be the intention of the Council to reimburse itself in the future for the portion of the cost of this improvement paid for from municipal funds by levying additional assessments, on notice and hearing as provided for the assessments herein made, upon any properties abutting on the improvement but not made, upon any properties abutting the improvement but not herein assessed for the improvement, when changed conditions relating to such properties make such assessment feasible. 4. To the extent that this improvement benefits non-abutting properties which may be served by the improvement when one or more later extensions or improvements are made, but which are not herein assessed, therefore, it is hereby declared to be the intention of the Council, as authorized by Minnesota Statutes Section 420.051, to reimburse the city by adding any portion of the cost so paid to the assessments levied for any of such later extension or improvements. 5. The clerk shall forthwith transmit a certified duplicate of the assessment to the County Auditor to be extended on the property tax lists of the County, and such assessments shall be collected and paid over in the same manner as other municipal taxes. Adopted by the City Council of the City of Hopkins, Minnesota, this 18th day of March 2003. ATTEST: , By ~/~~ Eu ene . Maxwell, Mayor