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A RESOLUTION PROVIDING FOR THE LEVY <br />OF TAXES DUE TO SPECIAL ASSESSMENTS <br />APPEALED AND REDUCED THROUGH COURT <br />APPOINTED ARFiTRATION <br />BE IT RESOLVED, by the City Council of the City of <br />Orono, Minnesota, as follows: <br />1. The City sold $900,000 G.O. Improvement Bonds on July 1, <br />1985 for the Sanitary Sewer Project 85-1 and 85-2. <br />2. The City has heretofore levied special assessments <br />adopted June 10, 1985 and July 8, 1985 for the payment of <br />all costs of said improvements. <br />3. The owners of certain benefitted properties upon which <br />special assessments were levied appealed and on August 27, <br />1986 the settlement and judgment was entered by the <br />arbitrators appointed by the District Court. Said judgment <br />reduced the assessments on 66 parcels from $9,235 each, to <br />$5,500 each. <br />4. The City has determined that a tax levy is needed for <br />the 1987 collection year and hereby levies upon all taxable <br />property in the City a direct ad valorem tax in the amount <br />of $40,000. <br />5. Upon final determination of any remaining unsettled <br />appeals, final costs and bond payment needs, the City will <br />provide for any future tax levy needed to insure timely and <br />adequate funding to pay the debt service on the 1985 G.O. <br />Improvement Bonds. <br />Adopted by the City Council of the City of Orono, <br />Minnesota, at a regular meeting held on September 22, 1986. <br />Mary C. Butler, Mayor <br />ATTEST: <br />Dorothy M. Hallin, City Clerk <br />