92-098 RES
L;J-~
James A. Tralle, Mayor
RESOLUTION 92 - ~
RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION ADOPTING FINAL ASSESSMENT ROLL
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WHEREAS, upon due notice properly made as required by law, the Elk River City
Council has met and heard and passed upon all objections to the
proposed assessment for the Boston Street improvements and has
determined the amount to be assessed against each individual property
as the Council deems just.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
River, Minnesota:
1. The final assessment roll, a copy of which is attached hereto
and incorporated herein by this reference, is hereby accepted
and adopted and shall constitute the special assessment against
the lands therein named. Each such tract of land in the
assessment roll is hereby found to be benefitted by the
improvement in an amount not less than the amount of the
assessment levied against it.
2. Such assessment shall be payable in equal annual installments,
including both principal and interest, amortized in such amount
annually as is required to pay the principal with interest at
5.25% over a period of 6 years.
3.
The owner of any property so assessed, may, at any time prior to
certification to the County Auditor of the assessment or the
first installment thereof, pay to the City Treasurer the whole
of the assessment on such property, with interest accrued to the
date of payment; except that no interest shall be charged if the
entire assessment is paid within 30 days after the adoption of
this Resolution. Prepayment may also be made after the
certification of the assessment or first installment thereof
by paying to the City Treasurer/county Auditor the entire amount
of the assessment remaining unpaid with interest. In the case
of a payment made before November 15, interest will be
calculated through December 31 of the year in which payment is
made. If payment is made after November 15, interest will be
calculated through December 31 of the next succeeding year.
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4. The City Administrator shall transmit to the County Auditor
a certified duplicate of the attached assessment roll to be
extended on the property tax lists of the County. Such
assessment shall be collected and paid Over in the same manner
as other municipal taxes.
Passed and adopted by the Elk River City Council this 5th day of
October, 1992.
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ATTEST:
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ASSESSMENT SCHEDULE
Constant Principal Payment
Project:
Parcel:
Orono Cemetery Improvements
75-132-4106
Owner:
Orono Cemetery Association
James Nystrom, President
19232 Proctor Avenue
Elk River, MN 55330
Interest Start Date:
Repayment Period:
Interest Rate:
December 1, 1992
6 years
5.25%
Assessments
Street Overlay
Amount
$3,600.00
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Annual Principal Interest Principal
Year Payment Payment Payment Remaining
. 1992 $3,600.00
1993 $ 804.75 $600.00 $204.75 3,000.00
1994 757.50 600.00 157.50 2,400.00
1995 726.00 600.00 126.00 1,800.00
1996 694.50 600.00 94.50 1,200.00
1997 663.00 600.00 63.00 600.00
1998 631.50 600.00 31. 50 -0-
$4,277.25 = Total of Annual Payment
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