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No. R-94-11 <br />r CITY OF FALCON HEIGHTS <br />C O U N C I L R E S O L U T I O N <br />Date: 3/9/94 <br />A RESOLUTION ADOPTING THE ASSESSMENT FOR CERTAIN IMPROVEMENTS <br />TO BE MADE AT FALCON HEIGHTS ELEMENTARY SCHOOL AT 1393 GARDEN AVENUE <br />WHEREAS, the Roseville Independent School District #623 petitioned the City <br />of Falcon Heights to assess the school district for certain improvements to <br />Falcon Heights Elementary School at 1393 Garden Avenue. <br />WHEREAS, the Roseville Independent School District #623 and the City of <br />Falcon Heights entered into an agreement for the city to finance the <br />improvements not to exceed $250,000 and assess the school district for these <br />improvements. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FALCON <br />HEIGHTS: <br />1. The assessment is hereby accepted and shall constitute the special <br />assessment against the lands named in the agreement and each tract of <br />land included is found to be benefitted by the proposed improvement in <br />the amount of the assessment levied against it. <br />2. The assessment shall be payable in equal installments extending over <br />a period of five years, the first of the installments to be payable on or <br />before the first Monday in January, 1995, and shall bear interest at no <br />less than 6.1% per annum from the date of the adoption of this assessment <br />resolution. The interest shall be adjusted as agreed to by the city and <br />the school district. The first installment shall have added all interest <br />on the entire assessment from the date of this resolution until December <br />31, 1994. Each subsequent installment when due shall be added interest <br />for one year on all unpaid installments. <br />3. The school district may, at any time prior to certification of the <br />assessment to the county auditor, pay the whole of the assessment on <br />the property with interest accrued to the date of payment to the city, <br />except that no interest shall be charged if the entire assessment is <br />paid within thirty days from the adoption of this resolution; and the <br />school district may at anytime thereafter, pay to the city the entire <br />amount of the assessment remaining unpaid, with interest accrued to <br />December 31 of the year in which such payment is made. Such a payment <br />must be made before November 15 or the interest will be charged through <br />December 31 of the next succeeding year <br />r1 <br />L.J <br />