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CITY of ORONO <br />RESOLUTION OF THE CITY COUNCI L <br />NO. 0 ^ -r <br />A RESOLUTION ADOPTING THE <br />BROWN ROAD N./ COUNTY ROAD 6 SEW ER EXTENSION <br />ASSESS.MENT ROLL <br />WHEREAS, the property owners have petitioned for an assessment sanitary sewer <br />project and have signed assessment waivers, waiving all applicable assessment procedural <br />rccjuircmcnts. and requesting to be assessed for project costs for tne Brown Road N / County Road <br />6 Sanitarv Sewer Extension improvements. <br />Minnesota: <br />NOW', THEREFORE, BE IT RESOLVED, by the City Council of Orono. <br />1.Such proposed assessment, a copy of which is attached hereto and made a part hereof, is <br />hereby accepted and shall constitute the special assessment against the lands named therein, <br />and each tract of land therein included is hereby found to be benefitted by the proposed <br />improvement in the amount of the assessment levied against it. <br />Such assessment shall be payable in equal annual installments extending over a period of 15 <br />years, the first of the installments to be payable on or before the first Monday in January <br />2004 and shall bear interest at the rate of 6.25% per anrum from the date of the adoption of <br />this assessment resolution. To the first installment sha'l be added interest on the entire <br />assessment from the date of this resolution until December '1, 2004. To each subsequent <br />installment when due shall be added interest for one year on dl unpaid installments. <br />3.T he owner of any property so assessed may, at any time prior to certification of the <br />assessment to the County Auditor, pay the whole of the assessment on such property, with <br />interest accimed to the date of payment, to the City Treasurer, except that no interest shall be <br />charged if the entire assessment is paid within thirty (30) days from the adoption of this <br />resolution, and he may, at anytime thereafter, pay to the City Treasure • the entire amount of <br />the assessment remaining unpaid, with interest accrued to December 3 1 of the year in which <br />such payment is made. Such payment must be made before November 15 or interest will be <br />charged through December 31 of the next succeeding year. Partial prepayment may be <br />allowed in accordance with ordinances which are existing or which the City may choose to <br />adopt in the future. <br />Page 1 of 2