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L <br />■Ml GlTYof ORONO <br />RESOLUTION OF THE CITY COUNCIL <br />NO.___4 8 6 8 <br />Assets, not including homesteaded property, must be $50,000 or less. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF ORONO IN A REGULAR MEETING ASSEMBLED, that the assessments against any <br />home^ad property owned by a person 65 years of age or older and for whom it would be a hardship <br />to make the payments, be defe^ for a period of time not to exceed five years subject to the <br />aforementioned financial criteria, upon submission of an appropriate application signed by the <br />qualified person, and which may upon expiration of initial or any subsequent renewal deferments <br />may U reapplied for, and subject to the applicant meeting all the necessary criteria upon <br />reapplication be deferred for an additional period not to exceed 5 years; and <br />under sl^on ^^95^*^ RESOLVED, that the right of deferment is automatically terminated <br />1. <br />2. <br />3. <br />4. <br />The owner dies and the spouse is not otherwise eligible; <br />The property or any part thereof is sold, transferred or subdivided; <br />The property should lose its homestead status; or <br />If for any reason the City determines that there would be no hardship to require <br />immediate or partial payment <br />Adopted by the City Council of the City of Orono, Minnesota at a regular meeting held <br />September 9,2002. * <br />ATTEST:Barbara A. Peterson, Mayor <br /><7^7^C-/ <br />Linda S. Vee. City Clerk <br />Page 2 of 2 <br />I <br />I <br />1 <br />iWiir II