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A RESOLUTION ADOPTING THE <br />EDGEWOOD HILLS AREA <br />SANITARY SEWER ASSESSMENT ROLL <br />WHEREAS, pursuant to proper notice duly given as required by law, the Council <br />has met and heard and passed upon all objections to the proposed assessment for the improvement <br />of sanitary sewer in the Edgewood Hills area. <br />NOW, THEREFORE, BE IT RESOLVED, by the City CouncU of Orono, <br />Minnesota; <br />1. <br />2. <br />3. <br />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 m 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 />2000 and shall bear interest at the rate of 8% per annum from the date of the adoption of this <br />assessment resolution. To the first installment shall be added interest on the entire <br />assessment from the date of this resolution until December 31, 1999. To each subsequent <br />installment when due shall be added interest for one year on all unpaid installments. <br />The 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 accrued to the date of payment, to the City Treasurer, except that no interest shall <br />be charged if the entire assessment is paid within thirty (30) days fi’om the adoption of this <br />resolution; and he may, at anytime thereafter, pay to the City Treasurer the entire amount of <br />the assessment remaining unpaid, with interest accrued to December 31 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