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<br />City of Arden Hills <br />2004 Assessment Policy <br /> <br />. <br /> <br />8. Interest Rate on Unpaid Balance <br /> <br />The interest rate used for thc assessment shall be designated at the prime <br />rate plus two (2) percentage points, fixed for the duration of the <br />outstanding balance. The effective date of the interest shall be the date the <br />Council approval of thc assessment role. <br /> <br />9. Land Not Included in Assessment <br />The City may rcserve the right to delete land within thc assessable area <br />from the assessment rolcs if, in its opinion, the land cannot be developed <br />and/or the improvement does not provide benefit. No development of that <br />property shall bc permitted, nor shall any physical connection to the City's <br />utility or drainage facilitics be made by any development on that property <br />until the assessment or connection fees are paid. <br /> <br />10. <br /> <br />Servicc District <br />A service district is the area, <br />approved by the City Counc' <br />improvement project. Th' <br />typically used for trunk <br />sub trunk, source, stor <br />sewer projects. <br /> <br /> <br />ined by the City Engineer and <br />hich cceive benefit from a proposed <br />f approach for assessment purposes is <br />btrunk sanitary sewer projects; trunk, <br />tment water projects; and trunk storm <br /> <br />. <br /> <br />11. Certification 0 Roll <br />At the time t rolls arc adopted by the City Council by <br />resolution (reD pendix for a sample resolution), the property owner <br />may pay ssment against thcir property in full at Arden Hills <br />City H Highway 96, within thirty (30) days without interest <br />charge. rty (30) days, but prior to certification to the County, <br />payment (p al plus interest from the assessment roll date) can be <br />made at the City Hall. Aftcr the certification of assessment to the County <br />is made, a resident may make a payment directly at the Ramsey County <br />Govcrnment Center, 50 Kellogg Boulevard, St. Paul. Interest charges <br />apply effective from the date of Council approval of the assessment role. <br />It should be noted that the certification is made to thc County in early <br />September. <br /> <br />A property owner may pay the total assessment against their property with <br />accrued interest at any time during the Iifc of the project assessment <br />period. <br /> <br />. If paid before November 15th, interest is calculated to December 3]" <br />of the year the payment is made. <br />. If paid after November 15th, interest will be calculated through . <br />December 31 st of the next ycar. <br /> <br />2004 Asscssmcnt Policy Manual - Page 8 <br />