08-20-1980 Council Minutes Info-sewer project

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� Page 2 Telephone 473-7357 • ., ,:: : _ .�;,=:,.� C�'��' of O�Ol�T� _�r _ ...,;_ � z �,�e,�; }•� Post Office Box 66•Crystal Bay,Minnesota 55323•Municipal Offices ��'��:.� On the North Shore of Lake Minnetonka e . ` ��,,e � Public Information Hearing August 20 , 1980 Sanitary Sewer Project LS-1980-1 , 1980-2 Dear Property Owner : Hopefully each of you has now received from the City a notice for the special assessment hearing of September 8 , 1980 to consider the adoption of the assessment roll and the proposed special assessment to be levied against your property . Set forth hereinafter is a general description of the remaining procedural steps to be taken by the City and the answers to some frequently asked questions . l. What is the status of Easement Acquisition? The City needs approximately 45 signed easements for the project . These easements have been mailed to the affected property owners . Please execute those easements and return them to the City. If you have any questions , call Mi4Ce Gaffron at 473-7357 . 2. When will the assessment roll be adopted? The City Council most likely will adopt an assessment roll on September 8 , 1980 , which assessment ,roll will include the final special assessment for each property . 3 . When will the final decision on the project be made? ' The City Council will make the final decision on whether to order the contractor to proceed with all of the project , part of the project , or cancel the project on or about October 10 , 1980. 4. How will the project be financed? Bonds will be sold in the amount of $1 , 205 , 000 or lesser amount if only a portion of the project is ordered on or about October 15-20, 1980 . We expect the bonds will be purchased at 8 - 8-1/2% and will be repayable in equal principal installments over 15 years .