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