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RESOLUTION 98 - 7_5 <br /> <br />A RESOLUTION FOR THE CITY OF ELK RIVER <br /> <br /> A RESOLUTION ADOPTING FINAL ASSESSMENT ROLL <br /> IN THE MATTER OF THE <br />GUARDIAN ANGELS LAKE ORONO IMPROVEMENTS OF 1998. <br /> <br />WHEREAS, <br /> <br />upon due notice properly 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 Guardian Angels Lake Orono improvement <br />and has determined the amount to be assessed against each individual <br />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 />Final assessment roll, a copy of which is attached hereto and incorporated herein <br />by this reference, is hereby accepted and adopted and shall constitute the <br />special assessment against the lands therein named. Each such tract of land in <br />the assessment roll is hereby found to be benefited by the improvement in an <br />amount not less than the amount of the assessment levied against it. <br /> <br />Such assessment shall be payable in equal annual installments, including both <br />principal and interest, amortized in such amount annually as is required to pay <br />the principal with interest as 6.5% over a period of up to 15 years. <br /> <br />The owner of any property so assessed, may, at any time prior to certification to <br />the County Auditor of the assessment or the first installment thereof, pay to the <br />City Treasurer the whole of the assessment on such property, with interest <br />accrued to the date of payment; except that no interest shall be charged if the <br />entire assessment is paid within 30 days after the adoption of this Resolution. <br />Prepayment may also be made after the certification of the assessment or first <br />installment thereof by paying to the City Treasurer/Auditor the entire amount of <br />the 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 next <br />succeeding year. <br /> <br />The City Administrator shall transmit to the County Auditor a certified duplicate of <br />the attached assessment roll to be extended on the property tax lists of the <br />County. Such assessment shall be collected and paid over in the same manner <br />as other municipal taxes. <br /> <br /> Passed and adopted this 6 day of July 1998. <br /> <br />ATTEST: .~l-(en~(k. Duitsma~, Mayor <br /> <br />Sandra A. Peine, City C~erk <br /> <br /> <br />