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<br />. <br /> <br />. <br /> <br />. <br /> <br />226271 <br /> <br />RESOLUTION 88- 92 <br /> <br />A RESOLUTION OF THE CITY OF ELK RIVER <br />APPROVING DEFERRED ASSESSMENTS <br /> <br />WHEREAS, <br /> <br />the Applicant has presented to the City Council an <br />application for deferral of special assessments <br />pursuant to law, and; <br /> <br />WHEREAS, <br /> <br />the Aplicant is over age 65 or totally and permanently <br />disabled and meets the other requirements for deferral <br />,of special assessments; <br /> <br />NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City <br />of Elk River, Minnesota as follows: <br /> <br />1. Joseph Zimmerman, (the Applicant) is hereby <br />granted deferral of payment of special assessments <br />for the Main Street Improvement on parcel number <br />115-010-000155 on the following conditions: <br /> <br />1. That the conditions described in the <br />application for deferral continue to exist. <br /> <br />2. This deferral shall terminate after a period of <br />10 years. <br /> <br />3. This deferral shall terminate upon: <br /> <br />a. Applicant's death, provided that the spouse <br />is otherwise not eligible for the benefits <br />hereunder; <br /> <br />b. The sale, transfer or subdivision of the <br />property or any part thereof; <br /> <br />c. If the property should, for any reason, <br />lose its homestead status; <br /> <br />d. If, for any reason, the City Council <br />determines that there would be no hardship <br />to require immediate or partial payment. <br /> <br />2. Those sums otherwise due and payable for the <br />special assessments shall accrue interest at the <br />rate of 6.25%, which interest shall/shall not be <br />paid with property taxes during the deferral <br />period. In any event, all accrued interest shall <br />be paid upon termination of the deferral. <br /> <br />Passed and adopted at a Regular meeting of the City Council of <br />the City of Elk River this 7th day of November, 1988. <br /> <br />~ c::~ ~ <br />Estelle E. Gunkel, Mayor <br /> <br />ATTEST: <br />,EtdZL~~~___ <br /> <br />Patrick D. Klaers, City Administrator <br />