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�� clt� o� oR,oNo � � RESOLUTION OF THE CITY COUNCIL � . NO. 1935 • ' • • A RESOLIITION APPROVING A REAPPLICATION OF SPECIAL ASSESSMENT DEFERMENT FOR BASIL M. YOUNG WHEREAS , the City Council has ordered a local improvement project known as LS1980-1 Sanitary Sewer for which special assessments have been levied against the benefited properties; and WHEREAS, the City Council has adopted Resolution Numbers 1093 and 1779 establishing a policy and procedure for deferring such special assessments for persons 65 years of age or older who have limited income and assets and for whom payment of such • special assessment would constitute a financial hardship; and WHEREAS , Basil M. Yound has made reapplication for • � deferment of the above noted special assessment pursuant to the provisions of Resolution Numbers 1093 and 1779, the original deferment was approved by the City Council January 12, 1981. NOW, TAEREFORE, BE IT RESOLVED, that the City Council of the City of Orono hereby finds that the applicant has demonstrated a hardship consistent with the provisions of Resolution No. 1D193 and 1779, and hereby orders deferral of the payment for the levied special assessments as follows: APPLICANT: Basil M. Young ADDRESS: 1225 Dickenson Street LE VY N0. P.I.N.S. _ LEVIED AMOUNT AMOUNT DEFERRED 7989 PJ2-117-23 31 �!(�48 $6 , 7P1�. 0� $6, 7P1�. 00 Deferral of payme,nts for principal and interest shall be for a period of time not to exceed five (5) years with the first payment of principal and interest due in collection year 1990. . Interest at the rate of 9 1/2% annum shall be added to the deferred assessment. Deferred principal and interest shall � be payable at the time of the first payment due in collection year 1990. The remainder of the principal and interest shall thereafter be payable in accordance with the adopted assessment � roll.