res_10712 - Laserfiche WebLink

Home

the City will promptly refund to any owner the amount of any prepayment under Section 2 or Section 3(a) hereof, together with interest at the rate of 4.5% accrued from the date of prepayment through June 8, 2009 in the case of any prepayment made before June 8, 2009 under the Prior Fee Resolution; and without interest in the case of any prepayment made after June 8, 2009 under this Resolution. 4. If not prepaid in accordance with Section 2 or Section 3(a) hereof, the Housing Improvement Fee (or unpaid portion thereof J shall be payable in equal annual installments extending over a period of fifteen years, the first of the installments to be payable in calendar year 2010, which annual payment shall be deemed to include interest on unpaid Housing Improvement Fee from the date of this Resolution at an annual interest rate of 7.75% per annum. The total original principal amount of the Housing Improvement Fees for each unit is shown in Attachment A. 5. The Housing Improvement Fee, unless prepaid in accordance with Section 2 or Section 3(a) hereof, shall be payable at the same time and in the same manner as provided for payment and collection of ad valorem taxes, as provided in Minnesota Statutes, Sections 428A..15 and 428A.05. 6. Within five days after the adoption of this Resolution, the City Manager is authorized and directed to mail to the owner of each housing unit in the Housing Improvement Area: (a) a summary of this Resolution; (b) notice that owners subject to the Housing Improvement Fee have a right to veto this Resolution if owners of at least 35 percent of the housing units within the Housing Improvement Area file an objection with the City Clerk before the effective date of this Resolution; and (b) and notice that a copy of this resolution is on file with the City Clerk for public inspection. 7. Upon the effective date of this Resolution, the City Manager shall forthwith transmit a certified duplicate of this Resolution to the County Property Records and Taxation Division to be extended on the property tax list of the County, with the direction that the Housing Improvement Fees that were not prepaid as described herein shall be paid over in the same manner as other municipal taxes. 8. This Resolution shall be effective 45 days after adoption hereof. The motion for the adoption of the foregoing resolution was duly seconded by Member Roe and upon a vote being taken thereon, the following voted in favor thereof Johnson, Pust, Roe and the following voted against the same: Ihlan WHEREUPON said resolution was declared duly passed and adopted.