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<br />,. <br /> <br />. <br /> <br />. <br /> <br />, <br /> <br />RESOLUTION 88-88 <br /> <br />A RESOLUTION FOR THE CITY OF ELK RIVER <br /> <br />A RESOLUTION ADOPTING FINAL ASSESSMENT ROLL <br /> <br />WHEREAS. <br /> <br />upon due notice properly made as required by law. the Elk River <br />City Council has met and heard and passed upon all objections to <br />the proposed assessment for the Jackson Avenue improvements and <br />has determined the amount to be assessed against each individual <br />property as the Council deems just. <br /> <br />NOW. THEREFORE. BE IT RESOLVED by the City Council of the City of Elk River. <br />Minnesota: <br /> <br />1. The final assessment roll. a copy of which is attached hereto <br />and incorporated herein by this reference. is hereby accepted <br />and adopted and shall constitute the special assessment against <br />the lands therein named. Each such tract of land in the <br />assessment roll is hereby found to be benefitted by the <br />improvement in an amount not less than the amount of the <br />assessment levied against it. <br /> <br />2. Such assessment shall be payable in equal annual insta11ments. <br />including both principal and interest. amortized in such amount <br />annual1y as is required to pay the principal with interest at <br />7.75% over a period of 5 or 10 years. <br /> <br />3. The owner of any property so assessed. may. at any time prior <br />to certification to the County Auditor of the assessment or the <br />first insta11ment thereof. pay to the City Treasurer the whole <br />of the assessment on such property. with interest accrued to <br />the date of payment; except that no interest shal1 be charged <br />if the entire assessment is paid within 30 days after the <br />adoption of this Resolution. Prepayment may also be made after <br />the certification of the assessment or first insta11ment <br />thereof by paying to the City Treasurer/County Auditor the <br />entire amount of the assessment remaining unpaid with interest. <br />In the case of a payment made before November 15. interest will <br />be calculated through December 31 of the year in which payment <br />is made. If payment is made after November 15. interest will <br />be calculated through December 31 of the next succeeding year. <br /> <br />4. The City Administrator shall transmit to the County Auditor a <br />certified duplicate of the attached assessment ro11 to be <br />extended on the property tax lists of the County. Such <br />assessment shall be collected and paid over in the same manner <br />as other municipal taxes. <br /> <br />Passed and adopted by the Elk River City Council this 5th day of <br />October. 1988. <br /> <br />6-tztb <br /> <br />Estelle E. <br /> <br />r-' J U <br />c, /"jvL4'J~ ' <br />Gunkel. Mayor <br /> <br />ATTEST: <br /> <br />d;;J2? /a~ <br /> <br />Patrick D. Klaers. City Administrator <br />