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� . <br /> +,: � , <br /> � O� <br /> O � O <br /> '� CITY of ORONO <br /> � � <br /> -* - ti <br /> ti <br /> RESOLUTION OF THE CITY COUNCIL <br /> ���kESfI�4�G NO. � � °� � <br /> A RESOLUTION ADOPTING THE <br /> NORTH ARM PAVING IMPROVEMENTS <br /> � ASSESSMENT ROLL <br /> WHEREAS, pursuant to proper notice duly given as required by law,the Council <br /> has met and heard and passed upon all objections to the proposed assessment for the paving <br /> improvements on North Arm Lane. <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 hereof, is <br /> hereby accepted and shall constitute the special assessment against the lands named therein, <br /> and each tract of land therein included is hereby found to be benefitted by the proposed <br /> improvement in the amount of the assessment levied against it. <br /> • 2. Such assessment shall be payable in equal annual installments extending over a period of 10 <br /> years, the first of the installments to be payable on or before the first Monday in January <br /> 2004 and shall bear interest at the rate of 6.25%per annum from the date of the adoption of <br /> this assessment resolution. To the first installment shall be added interest on the entire <br /> assessment from the date of this resolution until December 31, 2004. To each subsequent <br /> installment when due 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 the <br /> assessment to the County Auditor,pay the whole of the assessment on such property,with <br /> interest accrued to the date of payment,to the City Treasurer,except that no interest shall be <br /> charged if the entire assessment is paid within thirty (30) days from the adoption of this <br /> resolution;and he may,at anytime thereafter,pay to the City Treasurer the entire amount of <br /> the assessment remaining unpaid,with interest accrued to December 31 of the year in which <br /> such payment is made. Such payment must be made before November 15 or interest will be <br /> charged through December 31 of the next succeeding year. Partial prepayment may be <br /> allowed in accordance with ordinances which are existing or which the City may choose to <br /> adopt in the future. <br /> Page 1 of 2 <br /> . <br />