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<br />e <br /> <br />RESOLUTION 91 - DA <br />RESOLUTION FOR THE CITY OF ELK RIVER <br />A RESOLUTION ADOPTING FINAL ASSESSMENT ROLL <br /> <br />upon due notice property made as required by law, the <br />Elk River City Council has met and heard and passed upon all <br />objections to the proposed assessment for the CSAH #1 Elementary <br />School Street and Utility improvements and has determined the <br />amount to be assessed against each individual property as the <br />Council deems just; <br /> <br />WHEREAS, <br /> <br />_3. <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 final assessment roll, a copy of which is attached hereto and <br />incorporated herein by this reference, is hereby accepted and <br />adopted and shall constitute the special assessment against the <br />lands therein named. Each such tract of land in the assessment roll' <br />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. <br /> <br />Such assessment shall be payable in equal annual installments, <br />including both principal and interest, amortized in such amount <br />annually as is required to pay the principal with interest at 8.5% <br />over a period of 10 years. <br /> <br />The owner of any property so assessed, may, at any time prior to <br />certification to the County Auditor of the assessment or the first <br />installment thereof, pay to the City Treasurer the whole of the <br />assessment on such property, with interest accrued to the date of <br />payment; except that no interest shall be charged if the entire <br />assessment is paid within 30 days after the adoption of this <br />Resolution. Prepayment may also be made after the certification of <br />the assessment or first installment thereof by paying to the City <br />Treasurer the entire amount of the assessment remaining unpaid with <br />interest. In the case of a payment made before November 30, interest <br />will be calculated through December 31 of the year in which payment is <br />made. If payment is made after November 30, interest will be calculated <br />through December 31 of the next succeeding year. <br /> <br />4. <br /> <br />The City Administrator shall transmit to the County Auditor a <br />certified duplicate of the attached assessment roll to be extended <br />on the property tax lists of the County. Such assessment shall be <br />collected and paid over in the same manner as other municipal taxes. <br /> <br />Passed and adopted by the <br />day of November, 1991. <br /> <br />ATTEST: <br />e <br /> <br />City coun~; this 6th <br /> <br />(2 . <br /> <br />/Gene Schuldt, Vice Mayor <br /> <br /> <br />