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City Council Resolution 2006-94CITY OF MONTICELLO RESOLUTION NO. 2006-94 RESOLUTION ADOPTING ASSESSMENT 7" STREET AND HIGHLAND WAY PROJECT NO. 2004-02C WHEREAS, pursuant to notice duly given as required by law, the City Council has met, heard and passed upon all objections to the proposed assessment for the extension of 7a' Street from St. Henry's Church to CSAH 18 and the construction of Highland Way f 7a' Street to CSAH 75, City Project No. 2004 -02C and has amended such proposed assessment as it deems just; NOW THEREFORE, BE 1T REREB Y RESOL VED by the City Council of the City of Monticello, Minnesota as follows: 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 is hereby found to be benefited by the proposed assessment. 2. Such assessment shall be payable in equal annual installments including principal and interest extending over a period of ten years with the first installment payable on or before the first Monday in January, 2007, with interest at the rate of 5.5% per annum from the date of the adoption of this assessment resolution. To the first installment shall be added interest on the entire assessment from the date of this resolution until December 31, 2007. 3. The owner of the 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. 4. The City Administrator shall forthwith transmit a certified duplicate of this assessment roll to the County Auditor to be extended on the proper tax list of the county and such assessment shall be collected and paid over in the same manner as other municipal taxes. Adopted by the Monticello City Council the 23d day of October, 2006. K�/-/- Clint Herbst, Mayor ATTEST: