79-6075RRESOLUTION N0. 6075
RESOLUTION AMENDING RESOLUTION N0. 4735,
POLICY FOR STORM SEWER ASSESSMENTS
ON 1979 STORM SEWER CONSTRUCTION CITY PROJECT N0. 738
WfiEREAS, Resolution No. 4735 established a policy for assessing storm
sewers constructed after 1973, and
WHEREAS, this policy stipulates that. the total cost of construction will
be specially assessed to benefited properties., and
WHEREAS, the City has been experiencing certain drainage inadequacies
during exceptional rain storms. and it appears desirable to make improvements
to the existing storm drainage system to alleviate certain problems that occur
during these exceptional periods, and
WHEREAS, it appears desirable to change the existing storm sewer assessment
_ ,policy to more accurately charge the special benefit received by the benefited
properties with the cost of providing the improvement.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Richfield,
.that the City adopt the following policy for assessing 1979 storm sewer improve-
ments, City Project No. 738:
1. That the total cost of a storm sewer improvement include material, _
manpower, .equipment, financing and administrative overhead required
for the special assessment procedure and performance of this work.
2. That it is hereby determined that 70% of the preliminary estimated
cost of the project, $9v7,000, is the direct benefit to be specially
assessed against the benefited properties ,. $751,000, based on a
square footage rate ( 2.8~ ).
3. That the actual rate of assessment will be based on actual total cost
according to the policy established in Section 2 above when the project
is completed and actual costs are known.
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4. That the assessment be spread over a 20 year period-at 8% interest
with the privilege of prepaying the storm sewer at any time without
additional interest.
5. That the policies contained in this resolution shall be subject to
modification if necessary in individual ,cases if the council determines
that the assessment or assessments resulting from the application of -
the policies .will exceed the benefits received.
Passed by the City Council o;f the City of Richfield; this 9th day of
.April, 1979.
ren L. Law i yor
ATTEST:
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Thomas J. an City Clerk