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<br /> ~~..~,. ,,-"""~- - <br /> ~ <br /> .~ . <br /> - gl Municipal State-Aid Construction Funds <br /> - <br /> '. Municipal State-Aid construction funds are monies apportioned to <br /> '. the City from the State to be used for the construction of routes <br /> .-, designated on the Municipal State-Aid system. All construction <br /> - <br /> - <br /> - funded with these monies must be in accordance with the Minnesota <br /> '_ r , Department of Transportation (MnDOT) Office of State-Aid design <br /> ~ <br /> criteria. <br /> r. <br /> .. <br /> '.- <br /> -::-:;.: The City Council may choose to use these funds to offset the costs <br /> -:~"" <br /> - <br /> - of MnDOT approved improvements to a State-Aid designated street. <br /> y.. hl Interest Rate on Unpaid Balance <br /> ~ <br /> The interest rate used over the life of the assessment shall be <br /> fO.O. <br /> - determined at the time of the assessment hearing. It shall be <br /> --. calculated based upon the cost of financing over the life of the <br /> - assessment plus any associated overhead costs. This amount shall <br /> J..o be expressed as a percentage. <br /> - <br /> i) Land Not Included in Assessment <br /> 10m <br /> - The City may reserve the right to delete land within the <br /> - assessible area from the assessment roles if in its opinion the <br /> - land cannot be developed and/or the improvement does not provide <br /> . <br /> ~ benefit. No development of that property shall be permitted nor <br /> .. <br /> .~ <br /> shall any physical connection to the City's utility or drainage <br /> ~ <br /> ~ facilities be made by any development on that property until the <br /> - assessment or connection fees are paid. <br /> - <br /> ~ <br /> i <br /> . <br /> =. <br /> .~ <br /> 6 . . <br /> .~ <br /> - <br />