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A RESOLUTION APPROVING A SPECIAL ASSESSMENT <br />DEFERMENT FOR PATTY LOU CLAPP <br />WHEREAS, the City Council has ordered a local improvement project known <br />as Stubbs Bay 1992 Sanitary Sewer Improvement for which special assessments have been levied <br />against the benefitted properties; and <br />W <br />WHEREAS, the City Council has adopted Resolution No. 1093, Resolution No. <br />1779, Resolution No. 2864 and Resolution No. 3175 establishing a policy and procedure for <br />deferring such special assessments for persons 65 years of age or older who have limited income <br />and assets and for whom payment of such special assessment would constitute a tmancial <br />hardship; and <br />WHEREAS, Patty Lou Clapp has made an application for defermt.u ot the above <br />noted special assessment pursuant to the provisions of Resolution No. 3175. <br />NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of <br />Orono hereby finds that the applicant has demonstrated a hardship consistent with the provisions <br />of Resolution No. 3175, and hereby orders deferral of the payment tor the levied special <br />assessments as follows; <br />APPLICANT:Patty Lou Clapp <br />ADDRESS:290 Crestview Avenue <br />l.RVY NO. PROPERTY I.D. NUMBER LEVIED AMOUNJ <br />05-117-23 14 0018 $8,340.0012554 <br />AMOUNT DEFERRED <br />S8.840.00 <br />Deferral of payment for principal and interest shall be for a period of time not to <br />exceed five (5) years with the first pavment of principal and interest due in collection year 1998. <br />Interest at the rate of 6.5% per annum shall be added to the deferred assessment. <br />Deferred prineipal and interest shall be payable at the time of the first payment due m collectton <br />year 1998. The remainder of the principal and interest shall thereafter be payable tn accordance <br />with the adopted assessment roll. <br />Page 1 of 2