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City Council Resolution 2016-82CITY OF MONTICELLO WRIGHT COUNTY, MINNESOTA RESOLUTION 2016 -082 ADOPTING ASSESSMENT ROLL CERTIFYING 2016 STREET RECONSTRUCTION PROJECT ASSESSMENTS FOR 2017 PAYABLE TAX YEAR, CITY PROJECT NO. 15CO01 WHEREAS, pursuant to proper notice duly given as required by law, the Council has met and heard and passed upon all objections to the proposed assessment for the 2016 Core Street Reconstruction Project consisting of street improvements to Area 5 and included street reconstruction, sidewalk improvements, storm sewer improvements, sanitary sewer improvements, and water main and pump house improvements; and NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OFMONTICELLO, MINNESOTA: 1. Such proposed assessment, copies of which are 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 benefitted by the proposed improvement in the amount of the assessment levied against it. 2. Such assessment shall be payable in annual installments extending over a period of ten years, the first of the installments to be payable in the tax year of the first Monday in January, 2017, and shall bear interest at the rate of 4% (percent). To the first installment shall be added interest on the entire assessment from November 29, 2016 until December 31, 2017. 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 up to the end of day November 281 2016, pay the whole of the assessment on such property to the City Treasurer, except that no interest shall be charged if the entire assessment is paid within the stated time frame from the adoption of this resolution. In any subsequent year, the owner may pay to the City Treasurer the entire principal amount of the assessment remaining unpaid, with the exception of the amount assessed on the current taxes. Such payment shall be made before November 15th or interest will be charged through December 31 of the next succeeding year. 4. The clerk shall forthwith transmit a certification 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 24th day of October, 2016. CITY OF MONTICELLO Brian Stumpf, Mayo ATTEST: Jeff O' ill Administrator