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RESOLUTION 98 - 13 2 <br /> A RESOLUTION FOR THE CITY OF ELK RIVER <br />A RESOLUTION ADOPTING FINAL ASSESSMENT ROLL FOR <br /> THE EAST ELK RIVER PHASE I IMPROVEMENTS <br /> <br />WHEREAS, <br /> <br />upon due notice properly made as required by law, the Elk River City Council <br />has met and heard and passed upon all objections to the proposed assessment for <br />the East Elk River Phase I improvement and has determined the amount to be <br />assessed against each 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 />The final assessment roll, a copy of which is attached hereto and incorporated herein by <br />this reference, is hereby accepted and adopted and shall constitute the special <br />assessment against the land therein named. Each such tract of land in the assessment <br />roll is hereby found to be benefited by the improvement in an amount not less than the <br />amount of the assessment levied against it. <br /> <br />Such assessment shall be payable in equal annual installments, including both principal <br />and interest, amortized in such amount annually as is required to pay the principal with <br />interest at 7.5% over a period of 15 years. <br /> <br />The owner of any property so assessed, may at any time prior to certification to the <br />County Auditor of the assessment or the first installment thereof, pay to the City <br />Treasurer the whole of the assessment on such property, with interest accrued to the <br />date of payment; except that no interest shall be charged if the entire assessment is paid <br />within 30 days after the adoption of this Resolution. Prepayment may also be made <br />after the certification of the assessment or first installment thereof by paying to the City <br />Treasurer/County Auditor the entire amount of the assessment remaining unpaid with <br />interest. In the case of a payment made before November 15, interest will be <br />calculated through December 31 of the year in which payment is made. If payment is <br />made after November 15, interest will be calculated through December 31 of the next <br />succeeding year. <br /> <br />o <br /> <br />The City Administrator shall transmit to the County Auditor a certified duplicate of the <br />attached assessment roll to be extended on the property tax lists of the County. Such <br />assessment shall be collected and paid over in the same manner as other municipal <br />taxes. <br /> <br /> Passed and adopted this 3rd day of December, 1~9~8. <br />Sa'nd~'a A. P~ine, City Clerk <br /> <br />Duitsman, Mayor <br /> <br />O:\PROJ\800110j\0030\110-2511.nov.doc <br /> <br /> <br />