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RESOLUTION <br /> WHEREAS , a contract has been let (costs have been determined) for <br /> the improvement of installing and/or upgrading the sidewalks abutting <br /> CSAH 11 between CR 112 and TH 371 , and the corner of W . Front Street W. <br /> Sibley Street and the contract price for such improvement is <br /> $20 , 248 . 57 , and the expenses incurred or to be incurred in the making <br /> of such improvement amount to $435 . 00 so that the total cost of the <br /> improvement will be $20, 683 . 57 , <br /> NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PEQUOT LAKES, <br /> MINNESOTA: <br /> 1 . The portion of the cost of such improvement to paid by the <br /> county is hereby declared to be $10 , 124 . 29 , the portion of the cost to <br /> be paid by the city is hereby declared to be $5 , 718 . 53 , and the portion <br /> of the cost be assessed against benefited property owners is declared <br /> to be $4 , 840 . 75 . <br /> 2 . Assessments shall be payable in equal annual installments <br /> extending over a period of 10 years , the first of the installments to <br /> be payable on or before the 1st day of January, 1992 , and shall bear <br /> interest at the rate of 8 per cent per annum from the date of the <br /> adoption of the assessment resolution. <br /> 3 . The city clerk, shall forthwith calculate the proper amount to <br /> be specially assessed for such improvement against every assessable <br /> lot, piece or parcel of land within the district affected, without <br /> regard to cash valuation, as provided by law, and she shall file a copy <br /> of such proposed assessment in her office for public inspection. <br /> 4 . The clerk shall upon the completion of such proposed assess- <br /> ment, notify the council thereof. <br /> Adopted by the council this 14th day of Febru r , 19 1 . <br /> /17.4(‘ Q" Ed Larsen, Mayor <br /> Terri Russell , City Clerk <br />