89-040 RES
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RESOLUTION 89-~
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION ADOPTING FINAL ASSESSMENT ROLL
WHEREAS, upon due notice property 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 Tyler Street improvement 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
benefited 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 8.5% over a period of 5
years.
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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.
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 this 19th
day of ~e, 1989. ... __.." .;;/
~~,~ 'T~ai:,
James A. Tralle, Mayor
ATTEST:
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!lid J? p~,
Patrick D. Klaers, City Administrator