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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION 89- 29 <br /> <br />A RESOLUTION FOR THE CITY OF ELK RIVER <br /> <br />A RESOLUTION ADOPTING FINAL ASSESSMENT ROLL <br /> <br />WHEREAS. upon due notice properly made as required by law. the Elk River City <br />Council has met and heard and passed upon all objections to the <br />proposed assessment for the Main Street improvement and has <br />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 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 benefitted by the improvement in an amount not <br />less than the amount of the assessment levied against it. <br /> <br />2. 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 7.75% <br />over a period of 10 years. <br /> <br />3. <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/County Auditor the entire amount of the assessment <br />remaining unpaid with interest. In the case of a payment made <br />before November 15. interest will be calculated through December 31 <br />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 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 Elk River City Council this 22nd day of May. 1989. <br /> <br />J~/!~ <br /> <br />James A. Tralle. Mayor <br /> <br />ATTEST: <br /> <br /> <br />pa~~~~strator <br />