Fiscal Note
The cost of the signal installation is $123,415.31. Funds for the City's share of $108,420.35 are available in the Traffic Engineering's Capital Account CE57-58540-810417.
Title
Accepting improvements and assessing benefits for the Old Sauk Road-North Westfield Road Traffic Signal Assessment District. (9th AD)
Body
BE IT RESOLVED, that the traffic signal improvement in the Old Sauk Road-North Westfield Road Traffic Signal Assessment District which have been completed, be and hereby is accepted.
The total cost of such improvement being: $123,415.31
Of which the City is to pay: $108,420.35
And the abutting property: $14,994.96
BE IT RESOLVED, that the sum so charged to the abutting property be and hereby is assessed and levied upon said property, payable by the owners of the lots or parcels of land benefited as determined by the Board of Public Works, and in accordance with its recommendations, the amount so charged to each of the several lots or parcels of land so benefited being as follows, to-wit:
See Attached Schedule.
BE IT FURTHER RESOLVED that the property owners assessed for these improvements will be provided the following payment options:
1. The property owner may elect to pay the assessment prior to October 31st of the year in which it was billed, or pay the assessment when the property tax bill becomes due;
2. That the due date by which all such special assessments shall be paid in full is October 31st of the year in which it is billed; or
3. Special assessments shall be collected in eight (8) equal installments, with interest thereon at two and one-half percent (2.5%) per annum, except those special assessments paid in full on or before October 31st of that year.
INSTALLMENT ASSESSMENT NOTICE
Notice is hereby given that the amount of the special assessment therefore has been determined as to each parcel of real estate affected thereby and a statement of the same is on file with the City Clerk; it is proposed to coll...
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