Res 2007 - 6 - NID University Hills

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3. The revised estimated cost of the proposed improvement is $728,000.00, which does not exceed the original estimated cost of $728,000.00 by more than 25%. 4. The plans and specifications for the proposed improvement are set out in the attached “University Hills Subdivision Street Improvements,” marked Exhibit “A” and made a part hereof. 5. The proposed assessment roll, listing the assessments to be made against each parcel of real property deemed to be benefited by such improvement, is attached, marked Exhibit “B” and made a part hereof. It is proposed that the assessments shall accrue interest at the rate of 8% per annum until paid in full. The property owners may pay such assessment in full when levied or in substantially equal annual installments for duration not to exceed 10 years. 6. The plans and specifications (Exhibit “A”) and the proposed assessment roll (Exhibit “B”) were filed with the City Clerk on February 9, 2007, and have been open for public inspection since then. 7. Due notice of a public hearing held by the City Council in the City Council th Chambers at City Hall on February 26, 2007 at 6:30 p.m., was duly published in the Countian, a newspaper of general circulation within the City on February 9, 2007. The notice included the project name for the improvement, the general nature of the improvement, the revised estimated cost, the boundaries of the neighborhood improvement district to be assessed, and that written or oral objections would be considered at the hearing. 8. On February 8, 2007, the City Clerk caused to be mailed to the owners of record of the real property made liable to pay the assessments, at their last known post-office address, a notice of the public hearing and a statement of the cost proposed to be assessed against the real property so owned and assessed. 9. At the public hearing, held at the time and place specified in the notice, all suggestions or objections concerning the proposed improvement and proposed assessment were duly heard and passed upon by the City Council. BE IT FURTHER RESOLVED: That the proposed improvement of the neighborhood improvement district shall be made in accordance with the plans and specifications set out in Exhibit “A”; that financing for the cost thereof shall be obtained as provided in Sections 67.453 to 67.475 RSMo; and that after construction of the improvement in paragraphs 2(a) through 2(e) has been completed, the final cost of the improvement shall be computed and, by