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<br />e <br /> <br />RESOLUTION 94 - ~ <br /> <br />A RESOLUTION FOR THE CITY OF ELK RIVER <br /> <br />A RESOLUTION ADOPTING FINAL ASSESSMENT ROLL <br /> <br />WHEREAS, upon due notice properly made as required by law, the Elk <br />River City Council has met and heard and passed upon all <br />objections to the proposed assessment for the Elk Park Center <br />public improvements and has determined the amount to be <br />assessed against each individual property as the Council <br />deems just; <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of <br />Elk River, Minnesota: <br /> <br />1. <br /> <br />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 benefited by the improvement in an amount not less than the <br />amount of the assessment levied against it. <br /> <br />- <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 as 7.0% over <br />a period of 3 to 15 years. The first installment will be due in 1996. <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/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 next <br />succeeding year. <br /> <br />4. <br /> <br />The City Administrator shall transmit to the County Auditor a <br />certified duplicate of the attached assessment roll to be extended on <br />the property tax lists of the County. Such assessment shall be <br />collected and paid over in the same manner as other municipal taxes. <br /> <br />-- <br />