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RESOLUTION The matter of the neighborhood improvement district in Pershing Heights Subdivision was considered. After review and general discussion of the matter, Councilmember ~ offered the following Resolution and moved its adoption. BE IT RESOLVED: That the Council of the City of University City, Missouri finds and declares as follows: On February 9, 2004, a neighborhood improvement district in Pershing Heights Subdivision was lawfully established by resolution and preliminary plans and specifications for the proposed improvement was ordered to be made. 2. The general nature of the proposed improvement is as follows: Renovation and repaving of the alley east of Pennsylvania from Roberts and Raymond Avenue. The estimated cost of the proposed improvement is $40,370.00. The plans and specifications for the proposed improvement are set out in the attached in the "Pershing Heights Subdivision Improvement Project" marked Exhibit "A" and made a part hereof. 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 thereof. 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 assessments in full when levied or in substantially equal annual installments for duration not to exceed 20 years. The plans and specifications (Exhibit "A") and the proposed assessment roll (Exhibit "B") were filed with the City Clerk on March 8, 2004 and have been made open for public inspection since then. Due notice of a public hearing held by the City Council in the City Council Chambers at City Hall on March 29, 2004, at 7:30 p.m., was duly published in the St. Louis Countian, a newspaper of general circulation within the City on March 10, 2004. 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. On March 9, 2004, the City Clerk 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.