92-053 RES
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RESOLUTION 92 - 53
RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION APPROVING DEFERRED SPECIAL ASSESSMENT
FOR THE 1992 WESTWOOD IMPROVEMENT PROJECT
WHEREAS, the applicant has presented to the City Council an
application for deferred special assessments pursuant
to law; and,
WHEREAS, the applicant is over 65 years of age and meets the
financial requirements for deferral of special
assessments.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Elk River as follows:
1. Eleanor Todahl is hereby granted deferral of
special assessment for the Westwood Improvement
Project on Parcel #75-465-0845 on the following
conditions:
a. That the conditions described on the
application for deferral continue to exist.
b.
This deferral shall terminate after a period
of ten years unless extended pursuant to
Section 1404 of the City Code of Ordinances.
c. This deferral shall terminate upon:
1. Applicant's death, provided that the
spouse is not otherwise eligible for
the benefits hereunder;
2. The sale, transfer or subdivision of
the property or any part thereof;
3. If the property should, for any reason,
lose its homestead status;
4. If for any reason the City Council
determines that there would be no
hardship to require immediate or
partial payment.
2.
Those sums otherwise due and payable for the
special assessments shall accrue interest at the
rate of 6.02 percent per annum which interest
shall not be paid with property taxes during the
deferral period but may be paid to the City on an
annual basis. In any event, all unpaid accrued
interest shall be paid upon termination of the
deferral.
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Passed and adopted at a regular meeting of the City Council of
the City of Elk River this 15th day of June, 1992.
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ATTEST:
lty Clerk
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James A. Tralle, Mayor