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A RESOLUTION ADOPTING THE ASSESSMENT ROLL FOR <br />IMPROVEMENT OF THE INTERSECTION OF TRUNK HIGHWAY 12 <br />AND 650 FEET NORTH ON WILLOW DRIVE <br />WHEREAS, pursuant to proper notice duly given as required by law, the council has <br />met and heard and passed upon all objections to the proposed assessment for the improvement <br />of the intersection of Trunk High.vay 12 and 650 feet north on Willow Drive. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF ORONO, <br />MINNESOTA: <br />1.Such proposed assessment, a copy of which is attached hereto and made a part <br />hereof, is hereby accepted and shall constitute the special assessment against the <br />lands named therein, and each tract of land therein included is hereby found to <br />be benefited by the proposed improvement in the amount of the assessment levied <br />against it. <br />2.Such assessment shall be payable in equal annual installments extending over a <br />period of 15 years, the first of the installments to be payable on or before the first <br />Monday in January, 1996 and shall bear interest at the rate of 6.5 per cent per <br />annum from the date of the adoption of this assessment resolution. To the first <br />installment shall be added interest on the entire assessment from the date of this <br />resolution until December 31, 1996. To each subsequent installment when due <br />shall be added interest for one year on all unpaid installments. <br />3.The owner, of any property so assessed may, at any time prior to certification of <br />the assessment to the county auditor, pay the whole or the assessment on such <br />property, with interest accrued to the date of payment, to the city treasurer, <br />except that no interest shall be charged if the entire assessment is paid within 30 <br />days from the adoption of this resolution; and he may thereafter pay to the county <br />treasurer the installment and interest in process of collection on the current tax <br />list, and he may pay the remaining principal balance of the assessment to the city <br />treasurer. Such payment must be made before November 15 or interest will be <br />charged through December 31 of the next succeeding year.