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A RESOLUTION AMENDING THE PROGRAM FOR DEFERMENT OF SPECIAL <br />ASSESSMENTS FOR PERSONS 65 YEARS OF AGE OR OLDER <br />WHEREAS, the City Council of the City of Orono is the official governing body of the City <br />of Orono; and <br />WHEREAS, Minnesota State Statute Section 435.193 through Section 425.195 authorizes <br />the City of Orono, upon proper application, to defer the payment of special assessments against any <br />homestead property owned by a person 65 years of age or older on January 1 of the payment year <br />and for whom it would be a hardship to make the payments; and <br />WHEREAS, Section 425.194 authorizes the municipality to establish an interest rate to be <br />added to the deferred assessment which shall be payable in addition to the deferred assessment; and <br />that Orono had adopted such a program under Ordinance 2.62 (1984 recodified). Resolution 1093 <br />(dated November 13, 1979), Resolution 1779 (dated June 10, 1985), Resolution 2864 (dated August <br />27, 1990) and Resolution No. 3894 (dated April 28, 1997). <br />WHEREAS, the City Council has determined that the deferral of assessments should be <br />granted to any person otherwise qualified who makes proper application to the City of Orono on <br />forms prescribed by the County Assessor of Hennepin County and by the Orono City Council and <br />for whom the City Council determines that it would be a hardship to make the payments, based upon <br />the following criteria: <br />NUMBER OF PERSONS MAXIMUM INCOME <br />IN HOUSEHOLD <br />1 Person $33,450 <br />2 Person $38,250 <br />3 Person $43,000 <br />4 Person $47,800 <br />5 Person $51,600 <br />6 Person $55,450 <br />7 Person $59,250 <br />8 Person $63,100 <br />Page 1 of2