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<br />. <br /> <br />RESOLUTION 99 - <br /> <br />A RESOLUTION FOR THE CITY OF ELK RIVER <br /> <br />A RESOLUTION ADOPTING FINAL ASSESSMENT ROLL FOR <br />EAST ELK RIVER BUSINESS PARK IMPROVEMENTS <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 the <br />1999 East Elk River Business Park improvements and has determined the amount to <br />be 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, Minnesota: <br /> <br />1. 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 <br />assessment roll is hereby found to be benefited by the improvement in an amount not <br />less than the amount of the assessment levied against it. <br /> <br />2. Such assessment shall be payable in equal annual installments, including both <br />principal and interest, amortized in such amount annually as is required to pay the <br />principal with interest as 6.52% over a period of fifteen years. <br /> <br />. <br /> <br />3. <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 <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 <br />paid within 30 days after the adoption of this Resolution. Prepayment may also be <br />made after the certification of the assessment or first installment thereof by paying <br />to the City Treasurer/Auditor the entire amount of the assessment remaining unpaid <br />with interest. In the case of a payment made before November 15, interest will be <br />calculated through December 31 of the next succeeding year. <br /> <br />4. The City Administrator shall transmit to the County Auditor a certified duplicate of <br />the attached assessment roll to be extended on the property tax lists of the County. <br />Such assessment shall be collected and paid over in the same manner as other <br />municipal taxes. <br /> <br />Passed and adopted by the City Council of the City of Elk River this 22nd day of November, 1999. <br /> <br />Stephanie Klinzing, Mayor <br /> <br />ATTEST: <br /> <br />.Sandra A. Peine, City Clerk <br />