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<br />RESOLUTION 85-63 <br /> <br />. <br /> <br />RESOLUTION ADOPTING ASSESSMENT OF BITUMINOUS OVERLAY <br />STREET IMPROVEMENT PROJECT 1985-1 <br /> <br />WHEREAS, pursuant to proper notice duly siven as required by law, <br />the Elk River City Council has met and heard and passed <br />upon all objections to the proposed assessment for the <br />bituminous overlay street improvement project of <br />Ridsewood Subdivision Additons 1, 2, and 3. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of <br />Elk River, Minnesota: <br /> <br />1. Such proposed assessment, a copy of which is <br />attached hereto, and made a part hereof, is herebY <br />accepted and shall constitute the special assessment <br />asainst the lands named therein and each tract of <br />land therein included is hereby found to be <br />benefitted by the proposed improvement in the amount <br />of the assessment levied asainst it. <br /> <br />2. <br /> <br />Such assessment shall be payable in equal annual <br />installments extendins over a period of ten years, <br />the first of the installments to be payable on or <br />before the first Monday in January, 1986, and shall <br />bear interest at the rate of ten percent (lOX) per <br />annum from the date of the adoption of this <br />assessment resoluton. To the first installment <br />shall be added interest on the entire assessment <br />from the date of this resolution until December 31, <br />1985. To each subsequent installment, when due, <br />shall be added interest for one year on all unpaid <br />installments. <br /> <br />. <br /> <br />3. The owner of any property so assessed may, at any <br />time prior to certification of the assessment to the <br />County Auditor, pay the whole of the assessment on <br />such property with interest accrued to th date of <br />payment, to the City Treasurer, except that no <br />interest shall be charsed if the entire assessment <br />is paid within thirty (30) days from the adoption of <br />this Resolution; and he may, at any time thereafter, <br />pay to te City Treasurer the entire amount of the <br />assessment remainins unpaid, with interest accrued <br />to December 31 on the year in which such payment is <br />made. Such payment must be made before November 15, <br />ar interest will be charsed throush December 31 of <br />the next succeeding Year. <br /> <br />. <br /> <br />4. <br /> <br />The City Clerk shall forthwith transmit a certified <br />duplicate of this assessment to the County Auditor <br />to be extended on the proper tax lists of the <br />