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REQUEST FOR COUNCIL ACTION <br />C0UNC1LMEETIN6 <br />OCT 2 3 1995 <br />CFY 0? ORONO <br />DATE: October l>). 1995 <br />ITEM NO: / J <br />Department Approval: t/^ <br />Name Tom Kuehn <br />Title Finance Director <br />Administrator Reviewed:Agenda Section: <br />City Administritor's <br />Report <br />Item Description: <br />Adoption of Assessment Roll - Highway 12 Sewer and Water Project Phase II <br />Attachment: <br />(A) <br />(B) <br />(C) <br />(D) <br />Letter of notification maile*’ ’OM 1/95 <br />Petition for local improvement dated 7 24/89 <br />Resolution to adopt phase II special assessments <br />Assessment roll phase II <br />The July, 1989 Petition For Local Improvement agreement between the City and the <br />Petitioners provided that the special assessments for the sewer and water improvements <br />alone Highway 12 between Brown Road North and W illow Drive be levied in two <br />phases. Phase I was assessed in 1990 to be collected from 1991 through 1995. The <br />Phase II assessments are to be assessed in 1^95 to be collected from 1996 through 2002. <br />which is the final year of the 1989 Revenue Bonds. <br />Phase 1 of the assessments was for the sewer and water trunk lines, while the Phase II <br />assessments are for the sewer capacity upgrade and the water well, water pump station, <br />and water tower. The assessments have a 7.75“ o interest rate from their adoption, except <br />that any prepayments made within the first 30 days after their adoption arc interest free. <br />COUNCIL ACTION RKQl ESI LD: <br />Adoption of the restilution adopting the assessment roll for the phase II improvements <br />along the north side of Highway 12 Vtween Brown Road North and W illow Dnve. <br />PROPOSED MO HON: - Moved by.____. seconded by._____. to .idopl Resolution <br />4 . adopting the assessment roll for sewer and water improvement - phase II on the <br />n^hTide of Highway 12. between Brown Road North and W illow Drive. Ayes___, <br />Navs