2014-03-12 P.H. Proposed Assessment

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CITY OF CENTERVILLE Notice of Hearing on Proposed Assessment Notice is hereby given that the Council will meet at 6:45 p.m. on March 12, 2014 at City Hall, 1880 Main Street, Centerville, MN to consider the proposed assessment for the mill and overlay improvement of: rd 1.73 Street from Mill Road easterly to a point approximately 150 feet east of Quebec Street. rd 2.Quebec Street from 73 to Old Mill Road rd 3.Old Mill Road from 73 Street to a point approximately 250 feet north of Revoir Street 4.All of Revoir Street th 5.Deer Pass Drive from 20 Avenue west and then north to its terminus in the cul-de- sac 6.Lakeland Circle east from Centerville Road to Main Street 7.Meadow Lane from Centerville Road to Dupre Road 8.Dupre Road from a point approximately 150 feet easterly of Meadow Lane easterly then southerly to a point approximately 150 feet north of Center Street 9.Pioneer Lane from Dupre Road to Eagle Trail 10.Brian Court from Brian Drive easterly to its terminus in the cul-de-sac. 11.All of Steven Lane 12.Lakeland Circle West from Centerville Road to Main Street 13.Centerville Road from Lakeland Circle north a distance of approximately 150 feet. Adoption by the Council of the proposed assessment may occur following the hearing. The area proposed to be assessed is the abutting property. Such assessment is proposed to be payable in equal annual installments extending over a period of up to five years. The first of the installments to be payable on or before the first Monday in January 2015, and will bear interest at the rate of 5.0 percent per annum from the date of the adoption of the assessment resolution. To the first installment shall be added interest on the entire assessment from the date of the assessment resolution until December 31, 2015. Subsequently, special assessments shall be made in equal annual installments including principal and interest in an amount sufficient to amortize the principal over the stated term at the interest rate set by the Council. You may at any time prior to certification of the assessment to the County Auditor, pay the entire assessment on such property, with interest accrued to the date of payment, to the City Clerk. No interest shall be charged if the entire assessment is paid within 30 days from the adoption of this assessment. You may at any time thereafter, pay to the City Clerk the entire amount of the assessment remaining unpaid, with interest accrued to December 31 of the year in which such payment is made. Such payment must be made before November 15 or interest will be charged through December 31 of the succeeding year. If you decide not to prepay the assessment before the date given above the rate of interest that will apply is 5.0 percent per year. Partial prepayments