PUBLIC HEARING NOTICE
Public notice is hereby given that the City Council of the City of Chesterfield, Missouri, will hold a public hearing on November 15, 2010, at 6:45 p.m. in its chambers at 690 Chesterfield Parkway West, Chesterfield, Missouri, for the purpose of considering proposed neighborhood improvement assessments in the Chesterfield Hill Neighborhood Improvement District and taking written and oral objections to same. The District was formed by the City on September 1, 2010, pursuant to 67.457.3 RSMo., for the purpose of financing improvements known as the Chesterfield Hill Neighborhood Improvement District Improvement Project (the "Improvements"). The general nature of the Improvements is the remediation of two existing detention facilities, the first located near 1559, 1563 and 1567 Yarmouth Point Drive, and the second located near 1533 and 1537 Candish Lane, all within the Chesterfield Hill subdivision and within the City, as necessary to improve the drainage and detention system and confer other benefits on the properties located within the District that use them, as provided in Section 67.453(5) of the Act, together with the costs associated with the establishment of the District, exclusive of the costs of issuance, debt service reserves, and accrued interest on associated temporary notes or neighborhood improvement district bonds issued with respect to any and all portions of the Project.
The boundaries of the District to be assessed are as follows:
All of the real property within the Chesterfield Hill Subdivision, the plat of which is recorded with the St. Louis County Recorder of Deed's office in Plat Book 155, Page 10.
The estimated cost of the Improvements (less contingency) is $141,400 and shall be divided and assessed equally against each parcel of property or lot located in the District and benefited by the Improvements. Actual assessment cannot exceed the estimated costs by more than 25% ($176,750), are payable in not more than twenty (20) annual installments, and shall bear interest at rates to be determined by the City Council. The cost of the Improvements shall be financed with the proceeds of neighborhood improvement district bonds to be issued by the City under the provisions of the Act.