City Council Resolution 2007-98CITY OF MONTICELLO
RESOLUTION NO. 2007-98
RESOLUTION ADOPTING ASSESSMENT ROLL
DEVELOPMENT CHARGES — RIVER CITY LANES
LOTS 1 & 2, BLOCK 1, JEFFERSON COMMONS THIRD ADDITION
WHEREAS, pursuant to the terms of a land exchange and private development agreement dated
August 31, 2006 covering costs relating to the development of Lots 1 and 2, Block 1, Jefferson
Commons Third Addition;
NOW THEREFORE, BE IT HEREB Y RESOL VED BY THE CITY COUNCIL OF
MONTICELLO, MINNESOTA:
1. Such proposed assessment, a copy of which is attached hereto and made a part hereof, is hereby
accepted and shall constitute the special assessment against the lands named therein, and each
tract of land therein included is hereby found to be benefited by the proposed improvement in
the amount of the assessment levied against it.
2. Such assessment shall be payable in equal annual installments extending over a period of ten
years, the first of the installments to be payable on or before the first Monday in January 2008,
and shall bear interest at the rate of five and one -half percent per annum from the date of the
land exchange and private development agreement (August 31,2006). To the first installment
shall be added interest on the entire assessment from August 31, 2006 until December 31, 2008.
To each subsequent installment when due shall be added interest for one year on all unpaid
installments.
3. The owner of any property so assessed may, at any time prior to certification of the assessment
to the County Auditor, pay the whole of the assessment on such property, with interest accrued
to the date of payment, to the City, except that no interest shall be charged if the entire
assessment is paid within 30 days from the adoption of this resolution; and the property owner,
may, at any time thereafter, pay to the City 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 year.
;. The City 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 Monticello City Council this 26th day of November, 2007.
ATTEST: Clint Herbst, Mayor
Jeff O' Administrator