City Council Resolution 1990-51ION ADOPTING ASSESSMENT ROLL
PROJECT 90-2
RESOLUTION 90- 51
WHEREAS, pursuant to proper notice duly given as required by law,
the Council has met and h~ae d ~ n ovementsuofn7th Street, M nnesota
proposed assessment of t P
Street, and appurtenant work.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF MONTICELLO,
MINNESOTA:
1. Such proposed assessments, a copy of which is attached hereto
art hereof, is hereby accepted and shall
and made a p
constitute the special assessment against the lands name
therein, and each ted tbofthen proposed mprovement in rthe
found to be benefi Y
amount of the assessment levied against it.
2. Such assessments against improved Proper a period of 10 yearsn
equal annual installments extending
the first of the installments to be payable on or before the
first Monday in January, 1992, and shall bear the interest
rate of 8.125 per annum from the date of the adoption of this
assessment resol dedn interestc for boneu year nonce all nu paid
due shall be ad
assessments.
3. Such assessments against unimproved property, as noted in the
attached assessment roll, are hereby eligible for deferrment
of principal and interest for a period of up to 8 years or
until the property is subdivided, platted, or untilizes the
sanitary sewer or watermain improvements, whichever occurs
first. At termination of the deferral period, the original
principal assessment amount shall be adjusted to coincide with
the increases of the Minneapolis - St. Paul Construction Cost
Index that have occurred during the deferrment period. The
adjusted assessment shall be payablbut in nou caseashall
installments over a period of 10 years, ears after the
the last installment be payable later than 15 y
levy of the or d e shall sbesadded int re t cof 8u125~uPer
installment when
annum on all unpaid assessments.
4, The owner of any property so assessed may, at any time prior
to certification of the assessment to trhoe rt nty~ thlinterest
the whole of the assessment on such p P Y~
accrued to the date of payment, to the city treasurer, except
that no interest shall be charged if the entire assessment is
paid within 30 days from the adopaio~oothehcityetreasurer the
he may, at any time thereafter, p Y
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.
RESOLUTION ADOPTING ASSESSMENT ROLL
PROJECT 90-2
RESOLUTION 90-51
Page 2
5. 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 assesments shall be
collected and paid over in the same manner as other municipal
taxes.
Adopted by the Council this
City Admi 'strator
13th day of Novembe , 199
May