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<br />. <br /> <br />RESOLUTION 87 - 58 <br />A RESOLUTION FOR THE CITY OF ELK RIVER <br />A RESOLUTION ADOPTING FINAL ASSESSMENT ROLL <br /> <br />WHEREAS, <br /> <br />upon due notice property made as required by law, the Elk River <br />City Council has met and heard and passed upon all objections to <br />the proposed assessment for the Deerfield 3rd Addition improvement <br />and has determined the amount to be assessed against each <br />individual 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 />. <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 <br />and shall constitute the special assessment against the lands therein <br />named. Each such tract of land in the assessment roll is hereby found <br />to be benefitted by the improvement in an amount not less than the <br />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 9J.)% <br />over a period of 15 years. <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 <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 the <br />assessment or first installment thereof by paying to the City <br />Treasurer/County Auditor the entire amount of the assessment remaining <br />unpaid with interest. In the case of a payment made before November <br />15, interest will be calculated through December 31 of the year in <br />which payment is made. If payment is made after November 15, interest <br />will be calculated through December 31 of the next succeeding 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 <br />property tax lists of the County. Such assessment shall be collected <br />and paid over in the same manner as other municipal taxes. <br /> <br />Passed and adopted this 5 day of October, 1987. <br /> <br />. <br /> <br /> <br />n - 'f.4P vi rvlal. <br />(./.1 C >- .. <br />Esdi" e E. Gunk~ayor <br />