2013-002 Declaring Cost to be Assessed and Ordering AssessmentCITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION 2013-002
RESOLUTION DECLARING COST TO BE ASSESSED, AND ORDERING
PREPARATION OF PROPOSED ASSESSMENT
WHEREAS, costs have been determined for the improvement of Monroe, Jackson, Van
Buren and Harrison Avenues South, and 1St and 2"d Street South, and miscellaneous street, utility
and sidewalk work, and the bid price for such improvement is $3,096,330.25, and the expenses
incurred or to be incurred in the making of such improvement amount to $967,669.75 so that the
total cost of the improvement will be $4,064,000.00.
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 $2,892,997.27 and the portion of the cost to be assessed against benefited property
owners is declared to be $1,019,058.78.
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,
2014, 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, 2013.
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, Minnesota this 8th day of January, 2013.
By: gz4vLr
Euge J. axwell, Mayor
ATTEST: 9�p
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Kristine A. Luedke, City Clerk