CC 02-08-1960 - Laserfiche WebLink

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� � • 14 cammunities are muving up to 6`5. This community so far has done it on the basis o€ 5J� and Improvement No. l ha� been predicated on that basfs as has No. 2 and we cerry that forward hera in Improvem�nt No. 3. Of course, if the money market gets tighter, we may have ta move up to 6% in order to cover the interest on bonds becaus� you have to cover your principal and interest and that's the reason for it. This interest charge, whether 5yd or b�. and as I say it's predicated now on 5�, is what you can save if you desixe to pay c�sh. The way this works is that assuming the Council dQcides to move ahead after they escertain from the people what their feelings are, they would then order the improve- ment and then construction bids would be requested by the engineers in probably 1, 2 or 3 prcjects. Sometimes it's not all Iet at one time, but that's an engineering recommendation given ie the Council. After tha contracts have been let and a11 costs havQ been ascertained we issue the bonds to cover it so that the village'has money to pay the contractors as they,proceed. Toward the end of the year - in this partfcular case we couldn't finish this year - this would probably run from 1960 to 1961 and thQ fall of 1961 is when we would hold our assessment hearing because we would then know � C1erk. Notice is published. You have a right to come in and look at it before the hearing so you know exaGtly what yvur propos�d assessment would be and then the hearing is held and you have the what all the costs would be and would then'hold'our assessment hearing at whieh time you would have notice and you wo�Id then kncw exactly what your charge would be aqainst your individual property. 4'�hether you have a home or unplatted property. whatever the case may be, we list it in an asseesment roll. It's on file with the Village