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� g) MUniC1Dd1 State-Aid Construction Funds <br />,:� <br />Municipal State-Aid construction funds are monies apportioned to <br />the City from the State to be used for the construction of routes <br />designated on the Municipal State-Aid system. All construction <br />funded with these monies must be in accordance with the Minnesota <br />Department Of Transportation (Mt1�OT) Office of State-Aid design <br />criteria. <br />The City Council may choose to use these funds to offset the costs <br />of MnDOT approved improvements to a State-Aid designated street. <br />h) Interest Rate on Unpaid Balance <br />The interest rate used over the life of the assessment shall be <br />determined at the time of the assessment hearing. It shall be <br />� calculated based upon the cost of financing over the life of the <br />�� <br />assessment plus any associated overhead costs. This amount shall <br />be expressed as a percentage. <br />i) Land Not Included in Assessment <br />The City may reserve the right to delete land within the <br />d55ESSlbl2 area from the assessment roles if in its opinion the <br />land cannot be developed and/or the improvement does not provide <br />benefit. No development of that property shall be permitted nor <br />shall any physical connection to the City's utility or drainage <br />facilities be made by any development on that property until the <br />assessment or connection fees are paid. <br />[a <br />