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RESOLUTION 95 - _ <br />• A RESOLUTION FOR THE CITY OF ELK RIVER <br />A RESOLUTION ADOPTING FINAL ASSESSMENT ROLL <br />WHEREAS, upon due notice properly made as required by law, the Elk <br />River City Council has met and heard and passed upon all <br />objections to the proposed assessment for the 183rd Street <br />and Business Center Drive improvement and has determined <br />the amount to be assessed against each individual property <br />as the Council deems just; <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of <br />Elk River, Minnesota: <br />1. Final assessment roll, a copy of which is attached hereto and <br />incorporated herein by this reference, is hereby accepted and adopted <br />and shall constitute the special assessment against the lands therein <br />named. Each such tract of land in the assessment roll is hereby found <br />to be benefited by the improvement in an amount not less than the <br />amount of the assessment levied against it. <br />2. Such assessment shall be payable in equal annual installments, <br />including both principal and interest, amortized in such amount <br />annually as is required to pay the principal with interest as 8% over a <br />period of 5 years. <br />3. The owner of any property so assessed, may, at any time prior to <br />certification to the County Auditor of the assessment on such property, <br />with interest accrued to the date of payment; except that no interest <br />shall be charged if the entire assessment is paid within 30 days after <br />the adoption of this Resolution. Prepayment may also be made after <br />the certification of the assessment or first installment thereof by <br />paying to the City Treasurer/Auditor the entire amount of the <br />assessment remaining unpaid with interest. IN the case of a payment <br />made before November 15, interest will be calculated through <br />December 31 of the next succeeding year. <br />4. The City Administrator shall transmit to the County Auditor a <br />certified duplicate of the attached assessment roll to be extended on <br />the property tax lists of the County. Such assessment shall be <br />collected and paid over in the same manner as other municipal taxes. <br />• <br />