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Kathryn A. Frame <br />May 13, 1987 <br />Page 2 of 2 <br />As I explained in our telephone conversations today, the City <br />of Orono can have Hennepin County remove the special assessments <br />for installments due 1986-1987-1988, to include all accrued <br />principal, interest, penalties and interest for levies 9085 and <br />9087 on the 14 subject properties. However, it would be very <br />difficult for the County to apply the half -year principal for the <br />installment due 10/15/85. we have two alternatives to offers <br />1. Have the County remove both installments for assessments <br />payable in 1985, calculate the amounts due (the 1st half <br />principal and interest, the 2nd half interest only, and the <br />applicable penalties F'd interest reduced by the $732.98 per <br />parcel) and reassess those amounts for collection in 1987 <br />with the current year taxes. <br />2. Have the County remove those installment.. as outlined in <br />alternate 1, except that the amounts calculated would be <br />paid directly to the City of Orono and would not be included <br />in the amounts to be collected in 1987 by the County. <br />As I also told you the County will not be able to make the <br />necessary changes and issue amended tax statements for 1987 <br />/ before the first half taxes are due on 5/15/87. You have the <br />/.. )choice of not paying the installment due and incurring 7s <br />penaltyt or paying the installment due, as currently shown, and <br />receiving refunds from the County after all the changes have been <br />affected. <br />I hope this helps explain a very unusual circumstance. <br />Sincerely, <br />Thomas M. Kuehn <br />Finance Director <br />cc, Mark Bernhardson, City Adsiniâ–º-.ator <br />Cow_'$ LI 4E hCi j1u 0 A. <br />