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M <br /> • RESOLUTION 01 - <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 River City Council has <br /> met and heard and passed upon all objections to the proposed assessment for <br /> the Downtown Sidewalk Replacement improvement and has determined the <br /> amount to be assessed against each individual property as the Council deems <br /> just; <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River, Minnesota: <br /> 1. 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 <br /> hereby found to be benefited by the improvement in an amount not less than the amount <br /> of the assessment levied against it. <br /> 2. 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 as 6.5% over a period of three or five years. <br /> 3.• The owner of any property so assessed, may, at any time prior to certification to the 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/Auditor the entire amount of the assessment remaining unpaid with interest. <br /> In the case of a payment 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 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 /> Passed and adopted this 19th day of March, 2001. <br /> ATTEST: Stephanie A. Klinzing, Mayor <br /> • Sandra A. Peine, City Clerk <br /> O:\PROJ\812420]\0030\RESOLUTIONS 3-13-01.doc <br />