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<br />RESOLUTION 86-22 <br /> <br />RESOLUTION ADOPTING ASSESSMENT FOR SANITARY SEWER IMPROVEMENTS <br />ON SCHOOL STREET (IMPROVEMENT PROJECT 1986-1) <br /> <br />. <br /> <br />WHEREAS. pursuant to proper notice duly given as required by law, the Council <br />has met and heard and passed upon all objections to the proposed <br />assessment for the improvement of sanitary sewer for properties <br />between Proctor Avenue and Jackson Avenue and South of School <br />Street. <br /> <br />NOW. 'I'HBRErORE. BE IT RESOLVED by the City Council of the City of Elk River, <br />Minnesota: <br /> <br />1. Such proposed assessment, a copy of which is attached hereto and <br />made a part hereof, is hereby accepted and shall constitute the <br />special assessment against the lands named therein, and each <br />tract of land therein included is hereby found to be benefited <br />by the proposed improvement in the amount of the assessment <br />levied against it. <br /> <br />2. Such assessment shall be payable in equal annual installments <br />extending over a period of 15 years, the first of the <br />installments to be payable on or before the first Monday in <br />January, 1987 and shall bear interest at the rate of 10 per cent <br />annum from the date of the issuance of the improvement bonds. <br />To the first installment shall be added interest on the entire <br />assessment from the date of the issuance of the improvement <br />bonds. To each subsequent installment when due shall be added <br />interest for one year on all unpaid installments. <br /> <br />. <br /> <br />3. The owner of any property so assessed may, at any time prior to <br />certification of the assessment to the county auditor, pay the <br />whole of the assessment on such property with interest accrued <br />to the date of payment, to the City Treasurer, except that no <br />interest shall be charged if the entire assessment is paid <br />within 30 days from the adoption of this resolution; and he may, <br />at any time thereafter, pay to the City Treasurer the entire <br />amount of the assessment remaining unpaid, with interest accrued <br />to December 31 of the year in which such payment is made. Such <br />payment must be made before November 15 or interest will be <br />charged through December 31 of the next succeeding year. <br /> <br />Passed and adopted by the Elk River City Council this Seventeenth day of <br />March, 1986. <br /> <br />"2 ' <br />C< - ~-t~/1< <br /> <br />Richard Hinkle; Mayor ' <br /> <br />ATTEST: <br /> <br /> <br />"74~ <br />.- ~// .~. . .- <br /> <br />T}{o s R. Bubl~t , C~ty Adm~n~strator <br /> <br />. <br />