98-086 RESRESOLUTION 98- 86
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION ADOPTING FINAL SUPPLEMENTAL ASSESSMENT ROLL
IN THE MATTER OF THE LAKE ORONO SEDIMENT REMOVAL
PROJECT OF 1998
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 Lake Orono Sediment Removal
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:
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.
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 as 6.5% over a period of five years.
o
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/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 next
succeeding year.
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 3rd day of August 1998.
ATTEST:
S'andra A. Peine, City Clerk
O:~PROJ\802640j\640-2702,july.doc
Duit~r~r~' May(~r
ASSESSMENT SCHEDULE
Constant Principal Payment Method
Project: LAKE ORONO DREDGING IMPROVEMENT
Project No 802640J
Parcel: 75-402-0191
Lot:
Block:
Addition:
Owner: Patrick and Paula Donnelly
Interest Start Date: DECEMBER 1, 1998
Repayment Period (Ye 5
Interest Rate: 6.50%
Assessment Quantity. Unit Measure Unit Price
DREDGING 1 PER UNIT $2,200.00
Amount
$2,2OO.OO
YEAR
ANNUAL PAYMENT PRINCIPAL PAYMEN INTEREST PAYMENT RINCIPAL REMAINING
1998 $0.00 $0.00 $0.00 $2,200.00
1999 $595.15 $440.00 $155.15 $1,760.00
2000 $554.40 $440.00 $114.40 $1,320.00
2001 $525.80 $440.00 $85.80 $880.00
2002 $497.20 $440.00 $57.20 $440.00
2003 $468.60 $440.00 $28.60 $0.00
$2,641.15 TOTAL OF ANNUAL PAYMENTS
802640AS.supp
Project:
Project No 802640J
Parcel: 75-132-1111
ASSESSMENT SCHEDULE
Constant Principal Payment Method
LAKE ORONO DREDGING IMPROVEMENT
Owner: David and Kim Long
Interest Start Date: DECEMBER 1, 1998
Repayment Period (Ye 5
Interest Rate: 6.50%
Lot:
Block:
Addition:
Assessment Quantity Unit Measure Unit Price
DREDGING 1 PER UNIT $2,200.00
Amount
$2,200.00
YEAR
ANNUAL PAYMENT PRINCIPAL PAYMEN INTEREST PAYMENT RINCIPAL REMAINING
1998 $0.00 $0.00 $0.00 $2,200.00
1999 $595.15 $440.00 $155.15 $1,760.00
2000 $554.40 $440.00 $114.40 $1,320.00
2001 $525.80 $440.00 $85.80 $880.00
2002 $497.20 $440.00 $57.20 $440.00
2003 $468.60 $440.00 $28.60 $0.00
$2,641.15 TOTAL OF ANNUAL PAYMENTS
802640AS.supp 2