Title
Ratifying the assessment for Replacement of Lead Water Service Line on Private Properties. (File No. 2402LDSRP, Assessment No. 244001)
Body
WHEREAS, the Saint Paul City Council in Council File RES 24-1105 accepted the Report of Completion for Replacement of Lead Water Service Line on Private Properties requested by the Property Owner; and
WHEREAS, the City Council held a public hearing on September 18, 2024 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 2025; and
WHEREAS, the first annual installment will include 1/20th of the assessment principal, plus interest at 5.65 percent per year on the ratified assessment amount from the date of this resolution until December 31, 2025; and
WHEREAS, for every annual installment afterwards, interest will be calculated on the remaining assessment balance; now, therefore, be it
RESOLVED, that the said assessment is hereby in all respects ratified.