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A RESOLUTION ADOPTING THE <br /> 755 DICKEY LAKE DRIVE SEWER EXTENSION <br /> ASSESSMENT ROLL <br /> WHEREAS, the property owner has petitioned for an assessment sanitary sewer <br /> project and has signed an assessment waiver, waiving all applicable assessment procedural <br /> requirements,and requesting to be assessed for project costs for the 75� Dickey Lake Drive Sanitary <br /> Se�ver Extension improvements. <br /> NOW, THEREFORE, BE IT RESOLVED, by the City Council of Orono, <br /> Minnesota: <br /> 1. Such proposed assessment, a copy of which is attached hereto and made a part hereof, is <br /> hereby accepted and shall constitute the special assessment against the lands named therein, <br /> and each tract of land therein included is hereby found to be benefitted by the proposed <br /> improvement in the amount of the assessment levied against it. <br /> 2. Such assessment shall be payable in equal annual installments eatending over a period of 15 <br /> years, the first of the installments to be payable on or before the first Monday in January <br /> 2006 and shall bear interest at the rate of 6.25%per annum from the date of the adoption of <br /> this assessment resolution. To the first installment shall be added interest on the entire <br /> assessment from the date of this resolution until December 31, 2006. To each subsequent <br /> installment when due shall be added interest for one year on all unpaid installments. <br /> 3. The owner of any property so assessed may, at any time prior to certification of the <br /> assessment to the County Auditor, pay the whole of the assessment on such property, with <br /> interest accrued to the date of payment,to the City Treasurer, except that no interest shall be <br /> charged if the entire assessment is paid within thiiTy (30) days from the adoption of this <br /> resolution; and he may, at anytime thereafter, pay to the City Treasurer the entire amount of <br /> the assessment remaining unpaid, with interest accrued to December 31 of the year in which <br /> such payment is made. Such payment inust be made before November 1� or interest will be <br /> charged through December 31 of the next succeeding year. Partial prepayment may be <br /> allowed in accordance with ordinances which are existing or which the City may choose to <br /> adopt in the future. <br /> Page 1 of 2 <br />