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VIII-A-1 CITY OF HASTINGS DAKOTA COUNTY, MINNESOTA Resolution No. RESOLUTION ADOPTING THE ASSESSMENT FOR THE 2003 STREET AND UTILITY IMPROVEMENTS WHEREAS, pursuant to proper notice duly given as required by law, the City Council ofthe City of Hastings has met, heard, and passes upon all objections to the proposed assessments for the improvements of: . 2003-6 General Sieben Dr. Extension - from Carleton Lane to CR #46 . 2003-7 Spiral Blvd & 31st St. Extensions - from Enterprise Ave to CR #91, Glendale Road . 2003 RSO - Riverwood ih and South Oaks 2nd Addition Improvements These improvements include street, sidewalk, bituminous trail, sanitary sewer, watermain, utility services and storm sewer construction. NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF HASTINGS AS FOLLOWS: 1. The proposed 2003 Improvement Program assessments, a copy of which is filed with the Hastings Engineering Department, are 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 constructed 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 (10) years, the first of the installments to be payable on or before the first Monday in January 2005, and shall bear interest at the rate of 5.0% per annum from December 1, 2004. To the first installment shall be added interest on the entire assessment from December 1,2004 until December 31, 2005. To each subsequent installment, when due, shall be added interest for one year on all unpaid installments. 3. The owner of any property so assessed may, at any time prior to certification of the assessment to the County Auditor, pay the whole or part of the assessment on sLlch property with interest accrued to the date of the payment to the City Clerk, except that no interest or Dakota County assessment certification fee shall be charged if the entire assessment is paid within 30 days from the adoption of this resolution; and he may, at any time thereafter, pay to the County Treasurer 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 December 30, or interest will be charged through December 31 of the next succeeding year. 4. The clerk shall forthwith, transmit a certified duplicate of this assessment to the County Auditor to be extended on the property tax lists ofthe Count, and such assessments shall be collected and paid over in the same manner as other municipal taxes. 5. The amount specially assessed is hereby declared to be $5,349,845.25. \\Cityha1l2\company\CityDocuments\City Council\Agenda Items\2004\November 1, 2004\Public W orks\AdoptAsmtResolution03 .doc