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TO: Mark Bernhardson, City Administrator <br />�1 S E P 2 �.� <br />FROM: Tom Kuehn, Finance Director �'],10� <br />/c, <br />DATE: September 19, 1986 trey d Un L. <br />SUBJ: Assessments - Sanitary Sewer - F.W.B.I. <br />In October, 1985, Council passed Resolution No. 1872 which <br />approved and levied assessments for sanitary sewer on the <br />Freshwater Biological Institute Foundation (FWBI) in the amount <br />of $47,080.00. The FWBI was given the option of having the full <br />assessment levied November 1, 1985 to be collected by the County, <br />or to remit the appropriate principal and interest by October 10 <br />each year direct to the City. The FWBI did elect to pay the <br />City directly an id make the first annual payment of principal, <br />$9,416.00. Thus, the principal balance has been reduced from <br />$47,080.00 to $37,664.00. The current installment now due is <br />$13,459.00 ($9,416.00 principal plus $4,043.00 interest) and has <br />not yet been received. Because the next scheduled Council <br />meeting is after. October 1G, I have attached a resolution and <br />assessment roll amending those prev ous so we have them ready to <br />go if necess i -y. <br />TO: Mayor Butler and Council <br />1� \ <br />FROM: Mark Bernhardson, City Administr.ato��� v <br />Forwarded recommending approval. <br />PROPOSED MOTION: Moved by , seconded by , to adopt <br />Resolution No. amending sanitary sewer special assessments <br />on Freshwater Biological Institute Foundation for principal <br />amounts previously paid. Ayes , Nays <br />