Title
Ratifying the assessment for the alley improvements in the alley bounded by Seventh, Woodward, Railroad, and Payne (File No. 19274 Assessment No. 255003).
Body
WHEREAS, the Saint Paul City Council in Council File RES 26-1453 accepted the Report of Completion for the assessment of benefits, cost and expenses for the alley improvements in the alley bounded by Seventh, Woodward, Railroad, and Payne; and
WHEREAS, the City Council held a public hearing on October 14, 2026 to consider ratification of the assessment roll; and
WHEREAS, the City Council considered and found satisfactory the assessment of benefits, costs and expenses for the construction work; 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 2027; and
WHEREAS, the first annual installment will include 1/20th of the assessment principal, plus interest at 5.95 percent per year on the ratified assessment amount from the date of this resolution until December 31, 2027; 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.