92-102 RES
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RESOLUTION 92 - 1.02
RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION ADOPTING FINAL ASSESSMENT ROLL
WHEREAS, Upon due notice properly made as required by law, the
Elk River City Council on September 28, October 12, and
October 19, 1992, held an assessment hearing on the
proposed assessments for the Western Area Phase 1
improvement projects; and,
WHEREAS, In the course of the assessment hearing the City
Council heard and passed upon all objections to the
proposed assessments, and determined the amount to be
assessed against each property; and,
WHEREAS, The City Council's written record of the proceedings
at the assessment hearing and written findings as to the
amount to be assessed to individual properties are
contained in the City Council's official minutes of the
hearing.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Elk River, Minnesota:
1.
The final assessment roll, as amended by the City Council
during the assessment hearing, 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 7.5% over a period of 3 -
20 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 assessments levied by this Resolution On tillable,
unimproved agricultural property which meets the
requirements set forth in Minnesota Statutes Section
273.111, Subd. 3, shall be deferred until 1994 and
interest for the years 1992, 1993, and 1994 shall be
forgiven. The first installment on assessments so
deferred shall be payable in 1995 and said assessments
(including assessments deferred in future years under the
provisions of Minnesota Statutes Section 273.111, Subd.
11) shall bear interest at the rate set forth in this
Resolution beginning on January I, 1995.
5. 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.
Pass"d and adopted this 19th day :j~ 1~.~
ATTEST: James A. Tralle, Mayor
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