HomeMy WebLinkAbout2019-004_2 ASSESSESSMENT INTEREST RATECITY OF GEM LAKE, MN
City Hall - 4200 Otter Lake Road
Gem Lake, MN 55110
RESOLUTION NO.2019-04
16 APRIL 2019
A RESOLUTION AMENDING THE INTEREST RATE OF ASSESSMENTS FOR
THE SCHEUNEMAN ROAD RECONSTRUCTION ASSESSMENT # S-371900030
WHEREAS, the City of Gem Lake noticed property owners affected by the Scheuneman
Road Reconstruction Project of a special assessment hearing to be held on the 17`" day of
April 2018; and
WHEREAS, said notice to property owners stated the assessments shall be payable in
equal annual installments extending over a period of 15 year, the first installment to be
payable on or before the first Monday in January, 2019, and shall bear interest at the rate
of 4% per annum from the date of adoption of the assessment resolution; and
WHEREAS, the City passed Resolution 2018-09, which state the assessment shall be
payable in equal annual installments extending over a period of 15 year, the first
installment to be payable on or before the first Monday in January, 2019, and shall bear
interest at a rate of 7% per annum from the date of adoption of the assessment resolution;
and
WHEREAS, according to State Statute the final interest rate adopted by resolution
cannot exceed the interest rate provided in the assessment notice to property owners.
NOW, THEREFORE BE IT RESOLVED, that the City Council of the City of Gem
Lake does formally adopt an amendment that the assessments shall be payable in equal
annual installments extending over a period of 15 year, the first installment to be payable
on or before the first Monday in January, 2019, and shall bear interest at the rate of 4%
per annum from the date of adoption of the assessment resolution.
The foregoing Resolution was offered by Councilor Cacioppo and was supported by
Councilor Lindner and was declared adopted based upon the following vote:
NAME
UZPEN
CACIOPPO
LINDNER
KUNY
ARTIG-
SWOMLEY
Vote
Absent
Yea
Yea
Yea
Yea
Attest
I, Gloria Tessier, the duly qualified City Clerk for the City of Gem Lake, County of
Ramsey, State of Minnesota, do hereby certify that the foregoing Resolution is a true and
accurate representation of action taken by the City Council of the City of Gem Lake on
the date first written.
16 APRIL 2019 —�
GLORIA TESSIER, City Clerk
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