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<br />~ <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF ARDEN HILLS <br /> <br />RESOLUTION NO. 98-36 <br /> <br />A RESOLUTION ADOPTING FINAL RECONSTRUCTION ASSESSMENT ROLL <br />(8 YEAR AMORTIZATION) <br /> <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 />Reconstruction Street Improvements and has determined the amount to be assessed against each <br />individual property as the Council deems just; <br /> <br />NOW THEREFORE BE IT RESOLVED, by the City Council ofthe City of Arden Hills, <br />Minnesota: <br /> <br />1. <br /> <br />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 /> <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 eight percent (8%) over a period of eight (8) years for <br />those assessment amounts greater than $3,500 in value. <br /> <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 to the County by paying to the County Auditor the <br />entire amount of the assessment remaining unpaid with interest. In the case of a <br />payment made before November 15, interest will be calculated through December <br />31 of the year in which payment is made. If payment is made after November 15, <br />interest will be calculated through December 31 of the next succeeding year. <br />