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RESOLUTION 97- <br /> <br />A RESOLUTION FOR THE CITY OF ELK RIVER <br /> <br />A RESOLUTION ADOPTING FINAL ASSESSMENT ROLL <br /> <br />upon due notice properly made as required by law, the Elk River City Council has <br />met and heard and passed upon all objections to the proposed assessment for the <br />Orono Lake 3rd Addition improvement and has determined the amount to be <br />assessed against each individual property as the Council deems just; <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River, <br />Minnesota: <br /> <br />Final assessment roll, a copy of which is attached hereto and incorporated herein by this <br />reference, is hereby accepted and adopted and shall constitute the special assessment <br />against the lands therein named. Each such tract of land in the assessment roll is hereby <br />found to be benefitted by the improvement in an amount not less than the amount of the <br />assessment levied against it. <br /> <br />° <br /> <br />Such assessment shall be payable in equal annual installments, including both principal and <br />interest, amortized in such amount annually as is required to pay the principal with interest <br />as 8.0% over a period of 10 or 15 years. <br /> <br />o <br /> <br />The owner of any property so assessed, may, at any time prior to certification to the <br />County Auditor of the assessment or the first installment thereof, pay to the City Treasurer <br />the whole of the assessment on such property, with interest accrued to the date of payment; <br />except that no interest 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 the certification of <br />the assessment or first installment thereof by paying to the City Treasurer/Auditor the <br />entire amount of the assessment remaining unpaid with interest. In the case of a payment <br />made before November 15, interest will be calculated through December 31 of the next <br />succeeding year. <br /> <br />The City Administrator shall transmit to the County Auditor a certified duplicate of the <br />attached assessment roll to be extended on the property tax lists of the County. Such <br />assessment shall be collected and paid over in the same manner as other municipal taxes. <br /> <br />Passed and adopted this 3rd day of March, 1997. <br /> <br />ATTEST: <br /> <br />John Dietz, Vice Mayor <br /> <br />Sandra A. Thackeray, City Clerk <br /> <br />230/320-2511. feb <br /> <br /> <br />