Title
Ratifying the assessment for Repair of Sanitary Sewer Line on Private Properties. (File No. SWRP2501, Assessment No. 253000)
Body
WHEREAS, the Saint Paul City Council in Council File RES 25-480 accepted the Report of Completion for Public Works Program for the Repair of Sanitary Sewer Line on Private Properties requested by the Property Owner; and
WHEREAS, the City Council held a public hearing on May 7, 2025 to consider ratification of the assessment roll; and
WHEREAS, the City Council considered and found satisfactory the assessment of benefits, cost and expenses for the services provided; and
WHEREAS, the assessment amount for each property will be payable in annual installments for a term of 20 years, with the first installment payable with property taxes in 2026; and
WHEREAS, the assessment will bear an interest rate of 5.65 percent per annum from the date of the adoption of this resolution; and
WHEREAS, the first annual installment for each property will include a portion of the assessment principal, plus interest on the ratified assessment amount from the date of this resolution until December 31, 2025. For every subsequent annual installment, interest will be calculated on the remaining assessment balance; now, therefore, be it;
RESOLVED, that the said assessment is hereby in all respects ratified.