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�' _l . <br /> O� <br /> � <br /> � , O �: O <br /> g � C ITY of URONO <br /> � -- K.� � . . <br /> ,: ti <br /> ti <br /> RESOLUTION OF THE CITY COUNCIL <br /> �L`�kES�IOg'�G NO. � ,� � �� � <br /> Assets,not including homesteaded property,must be$50,000 or less. <br /> NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br /> OF ORONO IN A REGULAR MEETING ASSEMBLED, that the assessments against any <br /> homestead property owned by a person 65 yeazs of age or older and for whom it would be a hazdship <br /> to make the payments, be deferred for a period of time not to exceed five yeazs subject to the <br /> aforementioned financial criteria, upon submission of an appropriate application signed by the <br /> qualified person, and which may upon expiration of initial or any subsequent renewal deferments <br /> may be reapplied for, and subject to the applicant meeting all the necessary criteria upon <br /> reapplication be defened for an additional period not to exceed 5 yeazs; and <br /> BE IT FURTHER RESOLVED, that the right of deferment is automatically terminated <br /> under Section 435.195 if: <br /> 1. The owner dies and the spouse is not�otherwise eligible; � � <br /> � . 2. T'he ro e or an art thereof is sold transferre <br /> P P ri3' Y P , d or subdivided; <br /> 3. The properiy should lose its homestead status; or <br /> 4. If for any reason the City determines that there would be no hazdship to require <br /> . immediate or partial payment. <br /> Adopted by the City Council of the City of Orono, Minnesota at a regular meeting held <br /> September 9, 2002. <br /> ATTEST: Barbara A. Peterson, Mayor <br /> ���� . <br /> Linda S. Vee, City Clerk <br /> � ` . : . <br /> � Page 2 of 2 <br />