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<br />. <br /> <br />RESOLUTION 89-~ <br />A RESOLUTION FOR THE CITY OF ELK RIVER <br />A RESOLUTION ADOPTING FINAL ASSESSMENT ROLL <br /> <br />WHEREAS, upon due notice property 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 Knollwood Area Overlay improvement and has <br />determined the amount to be assessed against each individual property <br />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 adopted and <br />shall constitute the special assessment against the lands therein named. <br />Each such tract of land in the assessment roll is hereby found to be <br />benefited by the 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 installments, including <br />both principal and interest, amortized in such amount annually as is <br />required to pay the principal with interest at 8.5% over a period of 5 <br />years. <br /> <br />. <br /> <br />3. 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 assessment <br />on such property, with interest accrued to the date of payment; except that <br />no interest shall be charged if the entire assessment is paid within 30 <br />days after the adoption of this Resolution. Prepayment may also be made <br />after the certification of the assessment or first installment thereof by <br />paying to the City Treasurer/County Auditor the entire amount of the <br />assessment remaining unpaid with interest. In the case of a payment made <br />before November 15, interest will be calculated through December 31 of the <br />year in which payment is made. If payment is made after November 15, <br />interest will be calculated through December 31 of the next succeeding <br />year. <br /> <br />4. The City Administrator shall transmit to the County Auditor a certified <br />duplicate of the attached assessment roll to be extended on the property <br />tax lists of the County. Such assessment shall be collected and paid over <br />in the same manner as other municipal taxes. <br /> <br />Passed and adopted this 19th day of June, 1989'~,//"'-'C)/7 <br /> <br />/ fl. f { /> <br />'- /ft/l/L/!_;z.,"f. t;!'r /.{'1:~\',..// "-_- A. <br />ATTEST: James A. Tralle, Mayor <br /> <br />. <br /> <br />lldt;/ }? &~4/ <br /> <br />Patrick D. Klaers, City Administrator <br />