98-095 RES
RESOLUTION 98 - ~
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION ADOPTING FINAL ASSESSMENT ROLL
IN THE MATTER OF THE
RAILROAD DRIVE IMPROVEMENTS 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 Railroad Drive 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. 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 as 6.5% over a period of 5 to 10 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/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.
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 3151 day of August 1998.
ATTEST:
~O~
Sandra A. Peine, City Clerk
~ a ~ui...&- -
~enry . Duitsman, Mayor
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ASSESSMENT SCHEDULE
Constant Principal Payment Method
Project:
Project No.:
Parcel:
RAILROAD DRIVE UTILITY IMPROVEMENTS
801840J
75..405..0910
75..405..0920
ELK RIVER ORDER OF EAGLES
Lot:
Block:
Addition: Village
Owner:
Interest Start Date:
RepaymentPeriod(Yea~)
Interest Rate:
DECEMBER 1, 1998
5
5.80ok
Assessment Unit Measure Amount
STREET IMPROVEMENTS LUMP SUM $4,000.00
YEAR ANNUAL PAYMENT PRINCIPAL PAYMENT INTEREST PAYMENT PRINCIPAL REMAINING
1998 $0.00 $0.00 $0.00 $4,000.00
1999 $1,051.70 $800.GO $251.70 $3,200.00
2000 $985.60 $800.00 $185.60 $2,400.00
2001 $939.20 $800.00 $139.20 $1,600.00
2002 $892.80 $800.00 $92.80 $800.00
2003 $846.40 $800.00 $46.40 $0.00
$4,715.70 TOTAL OF ANNUAL PAYMENTS
801840as25.80/0
ASSESSMENT SCHEDULE
Constant Principal Payment Method
Project:
Project No.:
Parcel:
RAILROAD DRIVE UTILITY IMPROVEMENTS
801840J
75-405-0940
Lot:
Block:
Addition: Village
Owner:
COTTEN AUTO SUPPLY
Interest Start Date:
RepaymentPeriod(Yea~)
Interest Rate:
DECEMBER 1, 1998
5
5.80ok
Assessment
Unit Measure
Amount
STREET IMPROVEMENTS
LUMP SUM
$4,000.00
YEAR ANNUAL PAYMENT PRINCIPAL PAYMENT INTEREST PAYMENT PRINCIPAL REMAINING
1998 $0.00 $0.00 $0.00 $4,000.00
1999 $1,051.70 $800.00 $251.70 $3,200.00
2000 $985.60 $800.00 $185.60 $2,400.00
2001 $939.20 $800.00 $139.20 $1,600.00
2002 $892.80 $800.00 $92.80 $800.00
2003 $846.40 $800.00 $46.40 $0.00
$4,715.70 TOTAL OF ANNUAL PAYMENTS
801840a525.80/0
2
ASSESSMENT SCHEDULE
Constant Principal Payment Method
Project:
Project No.:
Parcel:
RAILROAD DRIVE UTILITY IMPROVEMENTS
801840J
75-405-1010
Lot:
Block:
Addition: Village
Owner:
HORTON & WEISS
Interest Start Date:
Repayment Period (Years)
Interest Rate:
DECEMBER 1, 1998
5
5.800/0
Assessment
Unit Measure
Amount
STREET IMPROVEMENTS
LUMP SUM
$4,000.00
YEAR ANNUAL PAYMENT PRINCIPAL PAYMENT INTEREST PAYMENT PRINCIPAL REMAINING
1998 $0.00 $0.00 $0.00 $4,000.00
1999 $1,051.70 $800.00 $251.70 $3,200.00
2000 $985.60 $800.00 $185.60 $2,400.00
2001 $939.20 $800.00 $139.20 $1 J600.00
2002 $892.80 $800.00 $92.80 $800.00
2003 $846.40 $800.00 $46.40 $0.00
$4,715.70 TOTAL OF ANNUAL PAYMENTS
801840as25.80/0
3
Project:
Project No.:
Parcel:
Owner:
ASSESSMENT SCHEDULE
Constant Principal Payment Method
RAILROAD DRIVE UTILITY IMPROVEMENTS
801840J
75-405-1050
RONALD HETRICK
Interest Start Date:
RepaymentPeriod(Yea~)
Interest Rate:
Assessment
DECEMBER 1, 1998
10
5.800/0
SANITARY SEWER AND STREET IMPROVEMENTS
Unit Measure
LUMP SUM
YEAR
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
801840a525.80/0
ANNUAL PAYMENT
$0.00
$1,303.41
$1,217.60
$1,171.20
$1,124.80
$1,078.40
$1,032.00
$985.60
$939.20
$892.80
$846.40
Lot:
Block:
Addition: Village
Amount
$8,000.00
PRINCIPAL PAYMENT INTEREST PAYMENT PRINCIPAL REMAINING
$0.00
$800.00
$800.00
$800.00
$800.00
$800.00
$800.00
$800.00
$800.00
$800.00
$800.00
$10,591.41 TOTAL OF ANNUAL PAYMENTS
4
$0.00
$503.41
$417.60
$371.20
$324.80
$278.40
$232.00
$185.60
$139.20
$92.80
$46.40
$8,000.00
$7,200.00
$6,400.00
$5,600.00
$4,800.00
$4,000.00
$3,200.00
$2,400.00
$1,600.00
$800.00
$0.00
Project:
Project No.:
Parcel:
Owner:
ASSESSMENT SCHEDULE
Constant Principal Payment Method
RAILROAD DRIVE UTILITY IMPROVEMENTS
801840J
75-596-0105
RUSSELL & SHARON MARTIE
Interest Start Date:
Repayment Period (Years)
Interest Rate:
Assessment
DECEMBER 1, 1998
10
5.800/0
SANITARY SEWER, WATER, AND STREET IMPROVEMENTS
Unit Measure
LUMP SUM
YEAR
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
801840as25.80/0
ANNUAL PAYMENT
$0.00
$1,955.11
$1,826.40
$1,756.80
$1,687.20
$1,617.60
$1,548.00
$1,478.40
$1,408.80
$1,339.20
$1,269.60
Lot: 1
Block: 1
Addition: Hals Addition
Amount
$12,000.00
PRINCIPAL PAYMENT INTEREST PAYMENT PRINCIPAL REMAINING
$0.00
$1,200.00
$1,200.00
$1,200.00
$1,200.00
$1,200.00
$1,200.00
$1,200.00
$1,200.00
$1,200.00
$1,200.00
$15,887.11 TOTAL OF ANNUAL PAYMENTS
5
$0.00
$755.11
$626.40
$556.80
$487.20
$417.60
$348.00
$278.40
$208.80
$139.20
$69.60
$12,000.00
$10,800.00
$9,600.00
$8,400.00
$7,200.00
$6,000.00
$4,800.00
$3,600.00
$2,400.00
$1,200.00
$0.00
SUPPLEMENTAL ASSESSMENT SCHEDULE
Constant Principal Payment Method
Project:
Project No.:
Parcel:
RAILROAD DRIVE UTILITY IMPROVEMENTS
801840J
75-405...1 040
Lot:
Block:
Addition: Village
Owner:
ELK RIVER BREAD OF LIFE
Interest Start Date:
Repayment Period (Years)
Interest Rate:
DECEMBER 1] 1998
5
5.800,,'0
Assessment
Unit Measure
Amount
STREET IMPROVEMENTS
LUMP SUM
$1,333.33
YEAR ANNUAL PAYMENT PRINCIPAL PAYMENT INTEREST PAYMENT PRINCIPAL REMAINING
1998 $0.00 $0.00 $0.00 $1]333.33
1999 $350.57 $266.67 $83.90 $11066.67
2000 $328.53 $266.67 $61.87 $800.00
2001 $313.07 $266.67 $46.40 $533.33
2002 $297.60 $266.67 $30.93 $266.67
2003 $282.13 $266.67 $15.47 $0.00
$11571.90 TOTAL OF ANNUAL PAYMENTS
801840as.supp