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<br />. <br /> <br />RESOLUTION 92 - <br /> <br />RESOLUTION FOR THE CITY OF ELK RIVER <br /> <br />A RESOLUTION ADOPTING SUPPLEMENTAL ASSESSMENT ROLL <br />FOR THE WESTERN AREA PHASE I ASSESSMENT <br /> <br />WHEREAS, upon due notice properly made as required by law, the <br />Elk River City Council has met and heard and passed <br />upon all objections to the proposed assessment for the <br />Western Area Phase I improvement and has determined <br />the amount to be assessed against the benefitted <br />property as the Council deems just. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City <br />of Elk River, Minnesota: <br /> <br />1 . <br /> <br />The supplemental assessment roll, a copy of which is <br />attached hereto and incorporated herein by this <br />reference, is hereby accepted and adopted and shall <br />constitute the special assessment against the lands <br />therein named. Each such tract of land in the <br />assessment roll is hereby found to be benefited by the <br />improvement in an amount not less than the amount of <br />the assessment levied against it. <br /> <br />. <br /> <br />2. Such assessment shall be payable in equal annual <br />installments including both principal and interest, <br />amortized in such amount annually as is required to <br />pay the principal with interest at 7.5% over a period <br />of five (5) years. <br /> <br />3. The owner of any property so assessed, may at any time <br />prior to certification to the County Auditor of the <br />assessment or the first installment thereof, pay to <br />the City Treasurer the whole of the assessment on such <br />property, with interest accrued to the date of <br />paYment; except that no interest shall be charged if <br />the entire assessment is paid within 30 days after the <br />adoption of this Resolution. PrepaYment may also be <br />made after the certification of the assessment or <br />first installment thereof by paying to the City <br />Treasurer/County Auditor the entire amount of the <br />assessment remaining unpaid with interest. In the <br />case of a payment made before November 15, interest <br />will be calculated through December 31 of the year in <br />which paYment is made. If payment is made after <br />November 15, interest will be calculated through <br />December 31 of the next succeeding year. <br /> <br />. <br /> <br />4 . <br /> <br />The City Administrator shall transmit to the County <br />Auditor a certified duplicate of the attached <br />assessment roll to be extended on the property tax <br />