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A RESOLUTION TO AMEND THE STUBBS BAY <br />SANITARY SEWER ASSESSMENT ROLL - <br />REDUCTION OF PRINCIPAL AMOUNT OF ASSESSMENT <br />FOR PROPERTY LOCATED AT 3435 EASTLAKE STREET <br />WHEREAS, on July 27, 1992 the Orono City Council adopted Resolution #3145 <br />to adopt the Stubbs Bay Sanitary Sewer Assessment Roll; and <br />WHEREAS, Charles Balgaard is owner of the property located at 3435 Eastlake <br />Street legally described as the West 50’ of the East 200 ’ of Lot 2. Block 8, Bayside Addition <br />to I^^<* Minnetonka; also described as PINS 05-117-23-13-0039 (hereinafter "the property"); <br />and <br />WHEREAS, the assessment roll adopted in Resolution #3145 set the principal <br />amount of the assessment for the property at $8,840.(X); and <br />WHEREAS, Mr. Balgaard formally appealed the amount of the assessment per <br />the legally prescribed method; and <br />WHEREAS, Mr. Balgaard claimed that the value of his property will not increase <br />by the amount of the assessment as a result of the installation of municipal sewers, and <br />WHEREAS, the taxable market value of the property for 1992 was $27,600.00; <br />and <br />WHEREAS, the City and Mr. Balgaard have agreed that an w^sessment in the <br />amount of $7,000.00 is appropriate. <br />NOW THEREFORE BE IT RESOLVED, that the Shibbs Bay Sanitary Sewer <br />Assessment Roll is hereby amended to revise the principal assessment for the property from <br />$8,840.00 to $7,000.00. <br />Page 1 of 2