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06-082 CITY OF SHOREWOOD RESOLUTION NO. 06-082 A RESOLUTION DECLARING COST TO BE ASSESSED, ORDERING PREP ARA TION OF PROPOSED ASSESSMENT AND CALLING FOR HEARING ON PROPOSED ASSESSMENT W A TERMAIN INSTALLATION AS PART OF WEDGEWOOD DRIVE, MALLARD LANE AND TEAL CIRCLE ROAD RECLAMATION PROJECT CITY PROJECT 02-02 WHEREAS, costs have been determined for the improvement of watermain installation as part of the Wedgewood Drive, Teal Circle and Mallard Lane Road Reclamation project and the total cost of the improvement, including expenses incurred or to be incurred in the making of such improvement, will be $336,029.00; and WHEREAS, City Staff has prepared proposed assessment and filed such proposed assessment in the City office for public inspection. NOW, THEREFORE BE IT RESOLVED that the City Council of Shorewood, Minnesota: 1. The cost to be assessed against benefited property owners is declared to be $336,029.00. 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 before the first Monday in January 2007, and shall bear interest at the rate of 8 percent per annum from the date of the adoption of the assessment resolution. 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 he shall file a copy of such proposed assessment in his office for public inspection. 4. A hearing shall be held on the 13th Day of November, 2006 in the City Hall at 7:00 p.m. to pass upon such proposed assessment and at such time and place all persons owning property affected by such improvement will be given an opportunity to be heard with reference to such assessment. 5. The city clerk is hereby directed to cause a notice ofthe hearing on the proposed assessment to be published once in the official newspaper at least two weeks prior to the hearing, and shall state in the notice the total cost of the improvement. A mailed notice shall also be given to the owner of each parcel described in the assessment roll not less than two weeks prior to the hearings. 6. The owner of any property so assessed may, at any time prior to certification of the assessment to the county auditor, pay the whole of the assessment on such property, with interest accrued to the date of payment, to the City of Shorewood, except that no interest shall be charged if the entire assessment is paid within 30 days from the adoption of the assessment. He may at any time thereafter, pay to the City of Shorewood the entire amount of the assessment remaining unpaid, with interest accrued to December 31 of the year in which such payment is made. Such payment must be made before November 15 or interest will be charged through December 31 of the succeeding year. ADOPTED BY THE CITY COUNCIL of the City of Shorewood this 23rd day of October, 2006. 11 U ATTEST: WOODY LOVE, MAYOR AWSON, CITY ADMINISTRATOR