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property owner, shall be contracted for by the property owner, shall be completed by the <br />property owner as required by the policies and ordinances of the City of Elk River and Elk River <br />Municipal Utilities, and shall be inspected and accepted by the city building official before <br />payment of costs is made. <br />Section 78-4. Payment and Assessment of Costs Authorized. <br />a)Upon completion and acceptance by the City of all work required, the City will make <br />payment to the party or parties who performed the work in an amount not to exceed <br />that set forth in the petition accepted by the City. Such payment by the City shall <br />constitute a special charge against the affected property pursuant to Minnesota <br />Statutes, Section 429.101 and shall be specially assessed against the property by the <br />City pursuant to the provisions of Minnesota Statutes, Section 429.101. Special <br />assessments levied under this Section shall be payable in a single installment, or by <br />up to 10 equal annual installments, as provided by the City Council. <br />b)The City Council shall establish, and may amend from time to time, policies <br />regarding: (i) projects eligible for this program; (ii) petitions which may be accepted <br />by the City Administrator; (iii) petitions which may only be accepted by the City <br />Council; (iv) the number of annual installments over which amounts paid and <br />assessed will be levied; and (v) the interest rate applicable to unpaid installments. <br />Section 2. That this Ordinance shall be published and take effect as provided by law. <br />Passed and adopted by the City Council of the City of Elk River this day of , 2012. <br /> <br />John J. Dietz <br />Mayor <br />Attest: <br /> <br />Tina Allard <br />City Clerk <br />372 <br />