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. • • ' I <br /> � C�t� o� ORONO <br /> � R�SOLUTION OF THE CITY COUNCIL <br /> � �. " NO. 2056 <br /> • ' • •�� A RESOLDTION TO AI�ND <br /> R$SOLDTION NO. 1872 APPROVING AN ASSLSSMENT <br /> FOR SANITARY S$inTER - PROJECT 83-1A <br /> ON PROP$RTY OWNED BY THE <br /> F12ESHWATffit BIOI,OGICAL INSTITDTE FOUNDATATION <br /> B$ IT R$SOI.VED, by the City Counci 1 of the City of <br /> Orono, Minnesota as follows: <br /> 1. Resolution No. 1872 passed October 28, 1985 stipulated an <br /> . assessment of $47,080.00 at 9.2$ interest to be paid over <br /> five years. <br /> 2. By mutual agreement the Freshwater Biological Institute <br /> Foundation was given the option to pay the scheduled annual <br /> installment of principal and interest on or before October <br /> 10, each year directly to the City with the understanding <br /> that if an installment was not made timely the entire <br /> . remaining principal plus appropriate interest would be <br /> spread against the property to be collected by the County as <br /> provided by law. <br /> � , 3. The original principal balance has been reduced to <br /> $37,664.00 through scheduled payments as of November 15, <br /> 1985. <br /> 4. If the schedulecl payment is not received by October. l0, <br /> 1986, the principal balance remaining�shall be collected <br /> over the next four ( 4 ) years commencing with taxes <br /> collectible in 1987 with int�rest at 9.2$ on the unpaid <br /> balance for 26 months in 1987 and 12 months each year <br /> thereafter until finally collected. <br /> 5. The City has obtained from the Hennepin County Auditor <br /> Levy No. 10524 for the Sanitary Sewer Project 83-1A <br /> assessment and the County Auditor is hereby authorized and <br /> directed to extend upon proper tax lists of the County and <br /> further collect said assessments as provided by law. � • <br /> . Adopted by the City Council of the City of Orono, <br /> Minnesota, at a regular meeting held September 22, 1986. <br /> � � � � <br /> � ����PXL,'u.�.�-L <br /> Mary C. B ler, Mayor <br /> ATTE T: Timothy ams, Acting Mayor <br /> � r <br /> orothy M. llin,' ity Clerk <br />