6710-92 Improve certain Streets - Laserfiche WebLink

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Section 5. Council hereby determines that the 10ts and lands abounding and abutting.upon the proposed improvements are specially benefited by said. improvements. Those lots with frontage so benefited by said improvements shall be assessed at the rate of $9.50 per foot of frontage. Those lots with side yards benefited by any of the said improvements shall be assessed an amount equal to the average for all lots having frontage on the improved portion of the street plus $9.50 per foot for any lot depth in excess of 150-feet. It is estimated that these assessments shall,cover approximately fifty percent (50%) of the actual cost of said improvement, to wit: the cost of preliminary and other surveys, plans, specifications, profiles, and estimates and of printing, serving and publishing notices, resolutions and ordinances, the amount of damages resulting from the improvement assessed in favor,of any owner of land affected by the improvement and the preparation, levy, and collection of the special assessments, the cost of purchasing appropriating, and otherwise acquiring labor and material and interest on bonds and notes issued in anticipation of the levy and collection of the special assessment together with all other necessary expenditures. Such amount being hereby determined to be~equal to the special benefit derived by lands so abounding and abutting these improvements. Section 6. That the Clerk of this Council be and she is hereby directed to deliver a certified copy of this Resolution to the Director of Finance of this City. Section 7. That pursuant to Section 3 of Article XIV of the Amended Charter of the City of Lakewood, the Director of Finance of this City be and he is hereby authorized and directed to prepare and file with this Council the estimated assessments of the cost of the improvement described in this Resolution. When such estimated assessments have been so filed, said Director of Finance shall cause notice of the adoption of this Resolution and the filing of said estimated assessments to be served on the oWners of all lots and lands to be assessed as provided in Section 4 of said Article XIV. Section 8. That the assessments to be levied shall be paid in ten (10) semiannual installments, with interest on deferred payments at the same rate as shall be borne by the bonds to be issued in anticipation.of the collection thereof which is now estimated at 7 per centum (7%) per annum, provided that the owner of any property assessed may, at his option, pa~ such assessment in cash within thirty (30) daYs after passage of the assessing ordinance. Section 9. That bonds of the City shall be issued in anticipation of the collection of assessments by installments and in an amount equal thereto and- notes of said City shall be issued in anticipation of the issuance of such bonds and the levy of such assessments. Section 10. That the remainder of the entire cost of said improvements after application of the assessments herein provided, shall be paid by the issuance of bonds in the manner provided by law. Section ll. That it is found and determined that all formal actions of Council concerning and relating to the passage of this Resolution were adopted in an open' meeting of this Council and that all such deliberations of the Council and of any of its committees that resulted in such formal actions were in meetings open to the public, in compliance with all legal requirements. Section 12. That this Resolution is hereby declared to be an emergency measure for the reasons stated in the preamble hereof and provided it receives the affirmative vOte of two-thirds of all members elected to Council, it shall take effect and be in force immediatel~y u~n and approval by the Mayor; otherwise it shall period allowed by law. take eff~ .~r the earliest ent ~ --., clerk ..... ~ ' ' - '