HomeMy WebLinkAboutResolution 4642 . �
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�� G'� RESOLUTION OF THE CITY COUNCIL .
��kESII�4�' . NO. � F9 � � ,:
A RESOLUTION TO AMEND THE �
INTEREST RATE AND DATE APPLIED TO THE
FOX RIDGE AREA SArTITARY SEWER
ASSESSMENT ROLL,AS ESTABLISHED BY RESOLUTION NO. 4493 .
WHEREAS,the City Council of Orono, Minnesota established the interest rate at
8.00%, and the effective interest date as July 10, 2000, on the assessments for the improvement of
sanitary sewer in the Fox Ridge area by passage of Resolution No. 4493; and � �
WHEREAS,the Ciiy Council of Orono,Minnesota revised the interest rate to 6.25% �
and changed the effective interest date to October 9,2000 on the assessments for the improvement
of sanitary sewer in the Fox Ridge area by passage of Resolution No. 4538; and
WHEREAS,properties located at 5 Brown Road South and 15 Brown Road South
were included in the project assessments; and � �
• WHEREAS,during the 30 day time frame for prepayment ofthe assessments without
interest, these two properties were being considered as a possible site for the relocated Long Lake
fire station; and
WHEREAS,because of the possible acquisition of these two properties for the Long
Lake fire station,the property owners did not want to prepay the assessment during the allowed 30
day time frame; and
WHEREAS, these two properties are not now being considered as a site for the
relocated Long Lake fire station and will remain in residential use; and
. WHEREAS,the property owners have requested that they have the ability to prepay
the project assessments without interest; and �
WHEREAS,the assessment has already been certified to the County Auditor and
upon receipt of the assessment prepayment the City will request that the County Auditor remove the
project assessment from the subject property; and
WHEREAS,ifprepayment ofthe entire assessment is not received by the City within
the revised 30 day prepayment period,the assessment will remain against the property. �
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�b - CITY of ORONO
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�� G'ti� AESOLUTION OF THE CITY COUNCIL
� ���9.kESKp4�' �NO. � s �.�
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NOW, THEREFORE, BE IT RESOLVED, by the City Council of Orono,
Minnesota: • .
1. Such assessment shall be payable in equal annual installments extending over a
period of 15 years,the first of the installment to be payable on or before the first Monday in
January 2001,and shall bear interest at the rate of 6.25%per annum from October 9,2000.
To the first installment shall be added interest on the entire assessment from October 9,2000
until December 3 l,2001. To each subsequent installment when due shall be added interest
for one year on all unpaid installments. �
2. The owner of any property so assessed may pay the whole assessment on such
properry,with interest charged to the date of payment,to the City Treasurer, except that no
interest shall be charged if the entire assessment is paid within thiriy (30) days of April 10,
2001, and he may, at any time thereafter,pay to the City Treasurer the entire amount of the
assessment remaining unpaid, with interest accrued to December 31 of the year in which
� such payment is made. Such payment must be made before November 15, or interest will .
be charged through December 31 of the next succeeding yeax.
� 3. Partial prepayment is allowed in accordance with Ordinance No. 160,Second Series,
adopted May 12, 1997.
4. The Clerk shall forthwith transmit a certified duplicate of this assessment to the
County Auditor to be extended on the property tax lists of the County. Such assessments
shall be collected and paid over in the same manner as other municipal taxes.
Adopted by the City Council of the City of Orono, Minnesota at a regular meeting
held April 9, 2001. �
Barbara A. Peterson, Mayor
ATTEST: �
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