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3. If the applicant does not fall viithin <br />one of the above criteria, the City Council shall, <br />in its discretion, deternini3 hardship based upon <br />the applicant’s income, assets and expenses, <br />now, TiicncroRC, bc it ncroLVEo dy the city cou!icil or <br />THE CITY OF onOlIO I!l REGULAR MEETIMG ASSE'IDLCD, that assessments <br />against any liomestead property o^^ed by a person 65 years of age . <br />or older and for v/hon it would be a hardship to make the payments, <br />be deferred for a period of time not to exceed five years, subject <br />to the aforementioned financial criteria, upon suI;mission of an <br />appropriate application signed by the qualified person; and <br />DE IT FURTHER RESOLVED, that interest at the rate for <br />that particular assessment shall bc added to the deferred assess­ <br />ment and shall be payable in accordance with the terms and pro­ <br />visions of M.S.A. Section 435.195; and <br />BC IT FURTHER F.ESOLVED, that the right of deferment is <br />automatically terminated under Section 435.195 if; <br />1. The ovTier dies and the spouse is not <br />otherwise eligible; <br />2. The property or any part thereof is <br />sold, transferred or subdivided; <br />3. The property shouid lose its homestead <br />status; or <br />4. If for any reason the City determines <br />that there would be no hardship to require <br />immediate or partial payment. <br />Adopted by the City Council of the City of Orono, Minnesota at <br />regular meeting held November 13, 1979. ^ <br />am <br />wiilian B. Van Nest, Mayor <br />Attest: <br />!l