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<br /> - <br /> STATE OF MINNESOTA <br /> e COUNTY OF RAMSEY <br /> CITY OF ARDEN fiLLS <br /> RESOLUTION NO. 98-34 <br /> A RESOLUTION ADOPTING FINAL BITUMINOUS OVERLAY ASSESSMENT ROLL <br /> (5 YEAR AMORTIZATION) <br /> WHEREAS, upon due notice properly made as required by law, the Arden Hills City Council <br /> has met and heard and passed upon all objections to the proposed assessment for the 1998 <br /> Bituminous Overlay Street Improvements and has determined the amount to be assessed against <br /> each individual property as the Council deems just; <br /> NOW THEREFORE BE IT RESOLVED, by the City Council of the City of Arden Hills, <br /> Minnesota: <br /> 1. The final assessment roll, a copy of which is attached hereto and incorporated <br /> herein by this reference, is hereby accepted and adopted and shall constitute the <br /> special assessment against the lands therein named. Each such tract of land in the <br /> assessment roll is hereby found to be benefitted by the improvement in an amount <br /> not less than the amount of the assessment levied against it. <br /> . 2. Such assessment shall be payable in equal annual installments, including both <br /> principal and interest, amortized in such amount annually as is required to pay the <br /> principal with interest at six and three-fourths percent (6.75%) over a period of <br /> five (5) years. <br /> 3. The owner of any property so assessed, may, at any time prior to certification to <br /> the County Auditor of the assessment, pay to the City Treasurer at least fifty <br /> percent (50%) of the assessment on such property, with no interest accrued on the <br /> paid portion of the assessment, if the assessment is paid within thirty (30) days <br /> after the adoption of this Resolution. Prepayment may also be made after the <br /> certification of the assessment by paying to the County Auditor the entire amount <br /> of the assessment remaining unpaid with interest. In the case of a payment made <br /> before November 15, interest will be calculated through December 31 of the year <br /> in which payment is made. If payment is made after November 15, interest will <br /> be calculated through December 31 of the next succeeding year. <br /> . <br />