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RESOLUTION 03-_..5_1 <br /> <br />A RESOLUTION FOR THE CITY OF ELK RIVER <br /> <br />A RESOLUTION ADOPTING FINAL ASSESSMENT ROLL <br /> <br />WHEREAS <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 <br />the 2003 Pavement Rehabilitation improvement (413 Quinn Avenue) and has <br />determined the amount to be assessed against each individual property as the <br />Council deems just; <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River, Minnesota: <br /> <br />The final assessment roll, a copy of which is attached hereto and incorporated herein by <br />this reference, is hereby accepted and adopted and shall constitute the special <br />assessment against the lands therein named. Each such tract of land in the assessment <br />roll is hereby found to be benefited by the improvement in an amount not less than the <br />amount of the assessment levied against it. <br />Such assessment shall be payable in equal annual installments, including both principal <br />and interest, amortized in such amount annually as is required to pay the principal with <br />interest at 5.50% over a period of seven years. <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 <br />Treasurer the whole of the assessment on such property, with interest accrued to the <br />date of payment; except that no interest shall be charged if the entire assessment is paid <br />within 30 days after the adoption of this Resolution. Prepayment may also be made <br />after the certification of the assessment or first installment thereof by paying to the City <br />Treasurer/County Auditor the entire amount of the assessment remaining unpaid with <br />interest. In the case of a payment made before November 15, interest will be calculated <br />through December 31 of the year in which payment is made. If payment is made after <br />November 15, interest will be calculated through December 31 of the next succeeding <br />year. <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 <br />taxes. <br /> <br />Passed and adopted this 8th day of September, 2003. <br /> <br />ATTEST: <br /> <br />Patrick D. Klaers, City Administrator <br /> <br />Stepl~anie A. Klinzing, Mayer-' ' <br /> <br />S:~ADMIN\Resolutions\2003 Resolutions\Unapproved\paveRollQuinn.doc <br /> <br /> <br />