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<br />.. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION 89 - 60 <br /> <br />A RESOLUTION APPROVING DEFERRED SPECIAL ASSESSMENT <br />FOR THE 1988 MAIN STREET PROJECT <br /> <br />WHEREAS. <br /> <br />the applicant has presented to the City Council an application for <br />deferred special assessments pursuant to law; and, <br /> <br />WHEREAS. <br /> <br />the applicant is over 65 years of age and meets the financial <br />requirements for deferral of special assessments. <br /> <br />NOW. THEREFORE. BE IT RESOLVED by the City Council of the City of Elk River as <br />follows: <br /> <br />1. Mr. Perlain Oscarson is hereby granted deferral of special <br />assessment for the 1988 Main Street improvement on Parcel <br />#115-020-000180 on the following conditions: <br /> <br />1. That the conditions described on the application for <br />deferral continue to exist. <br /> <br />2. This deferral shall terminate after a period of ten <br />years. <br /> <br />3. This deferral shall terminate upon: <br /> <br />a. Applicants death. provided that the spouse is not <br />otherwise eligible for the benefits hereunder; <br /> <br />b. The sale. transfer or subdivision of the property <br />or any part therof; <br /> <br />c. If the property should, for any reason, lose its <br />homestead status; <br /> <br />d. If for any reason the City Council determines that <br />there would be no hardship to require immediate or <br />partial payment. <br /> <br />2. Those sums otherwise due and payable for the special <br />assessments shall accrue interest at the rate of 6.25% which <br />interest shall not be paid with property taxes during the <br />deferral period. In any event. all accrued interest shall be <br />paid upon determination of the deferral. <br /> <br />Passed and <br />River this <br /> <br />adopted at a regular meeting of the Ci~y Council of the City of Elk <br />25th day of September, 1989. ~ <br /> <br />~-~~~~ <br />-=-/~~t/U~7 ff /~ <br /> <br />James A. Tralle, Mayor <br /> <br />ATTEST: <br /> <br />