7543-01 Improve Gold Coast Lane - Laserfiche WebLink

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benefited by said improvements and shall be assessed in proportiomto the benefits that may result from the improvements in a amount not to exceed $375.00 per condominium unit upon an assessment percentage of not greater than 20% of the cost of the project The benefit shall be based upon the Condominium Association's percentage of total number of units and each owner's individual interest in common property as set forth in the Condominium Association Declaration of Ownership The assessments shall cover 20% of the actual cost of said improvement, to wit: the cost of preliminary and other surveys, publishing notices, resolutions and ordinances the amount of damages resulting from the improvement assessed in favor of any owner of [and affected by the ~mprovement and the preparation, levy, and collection of the special assessments, the cost of 3urchasing appropriating, and otherwise acquiring abor and material, interest on bonds and notes issued in anticipation of the levy and collection of the special assessments together with al~ other necessary expenditures Such amount being hereby determined to be equal to the soecial benefit derived by lands so abounding and abuttin9 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 XVI of the Second Amended Charter of the City of Lakewood, the Director of Finance of this City be and 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 as provided in Section 14 of said Article XVl 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 annum, provided that the owner of any property assessed may, at their option, pay such assessment in cash within thirty (30) days after receipt of the City's invoice. Section 9 That bonds of the City shall be issuec in anticipation of the collection of assessments by installments and in an amount equal thereto Sectio~ 10 That the remainder of the entire cost of sa d improvements after application of the assessments herein provided, shall be paid by the ,ssuance of bonds in the manner provided by law