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CITY OF ORONO <br />RESOLUTION OF THE CITY COUNCIL <br />NO. 6450 <br />A RESOLUTION DECLARING COST TO BE ASSESSED AND ORDERING PREPARATION <br />OF PROPOSED ASSESSMENT FOR THE <br />GREEN TREES ROAD SANITARY SEWER EXTENSION PROJECT <br />WHEREAS, estimated costs have been calculated for the Green Trees Road Sanitary Sewer Extension <br />Project, and <br />WHEREAS, the City of Orono has prepared the necessary feasibility study, plans and specifications, and <br />has received bids for the proposed improvements, and <br />WHEREAS, the estimated cost for such improvements is $100,587.50, which includes construction and <br />soft costs. <br />NOW THEREFORE, BE IT RESOLVED, by the City Council of Orono, Minnesota: <br />The portion of the cost of such improvement to be paid by the city is hereby declared to be $0 and <br />the portion of the cost to be assessed against benefited property owners is declared to be <br />$100,587.50. <br />2. Assessments shall be payable in equal annual installments extending over a period of 10 years with <br />the first of the installments to be payable the first Monday in January 2015, and shall bear interest at <br />the rate of 4.5% per the annum from the date of the adoption of the assessment resolution. <br />3. The City Clerk, with the assistance of the City Engineer, shall forthwith calculate the proper amount <br />to be specially assessed for such improvement against every assessable lot, piece or parcel of land <br />within the district affected, without regard to cash valuation, as provided by law, and shall file a <br />copy of such proposed assessment in her office for public inspection. <br />4. The City Clerk shall upon the completion of such proposed assessment, notify the Council thereof. <br />Adopted by the City Council of the City of Orono, Minnesota at a regular meeting held January 2, 2015, <br />Approved:I L�1_ y� <br />- WC t -f. . <br />Lili Tod McMillan, Mayor <br />Atte <br />r <br />Cl.�Z.E <br />iane legs, City Clerk <br />