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RESOLUTION The matter of the neighborhood improvement district in University Heights Subdivision Number One was considered. ARer a review and general discussion of the matter, Councilmember Paul Schoomer 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 January 5, 1998 a neighborhood improvement district in University Heights Subdivision Number One was lawfully established by resolution, and preliminary plans and specifications for the proposed improvement were ordered to be made. The proposed improvement is the partial removal and replacement of concrete gutters and curbs, and the renovation and re-paving of subdivision streets. The revised estimated cost of the proposed improvement is $554,459.73, which does not exceed the original estimated cost of $500,000.00 by more than 25%. The plans and specifications for the proposed improvement are set out in the attached "Improvement Contract for Project No. 915," 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 benefitted 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 assessments in full when levied or in substantially equal annual installments for a 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 June 8, 1998, and have been open for public inspection since then. Due notice of a public heating held by the City Council in the City Council Chambers at City Hall on June 29, 1998, at 7:30 p.m., was duly published in the St. Louis Countian, a newspaper of general circulation within the City, on June 17, 1998. 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 June 17, 1998 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