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MINUTES <br />CITY COUNCIL <br />JANUARY 23, 2012 <br />The City Engineer then reviewed assessment payment methods which <br />include payment of the assessment in full or part by the property owners <br />with no interest within 30 days of adoption of the assessment. Property <br />owners can also have their assessment certified to Ramsey County for <br />collection with property taxes. Those assessments would be spread over a <br />10 year period. Interest would be charged, with the Engineer noting that <br />the interest rate for 2011 assessments was 5.25 %. He noted that once <br />certified to the County, assessments can be paid in full any time in the <br />future, but recommended that payments be made prior to November 15'1' <br />of the given year, otherwise the full next year's interest is added to the <br />payment balance. The Engineer also pointed out that a property owner on <br />a fixed income can utilize an assessment deferral if certain criteria are met. <br />However, interest does accrue on deferred assessments. <br />The Engineer then reviewed the proposed project schedule as well as <br />construction issues. He reviewed the estimated Assessment Roll for the <br />project as well as reviewed an example of an assessment amortization <br />schedule for an assessment certified to the County. <br />There was discussion relative to the City Engineer's comments that the <br />City does seal coating of streets approximately every 7 years, with one <br />property owner indicating that seal coating has not occurred on Spruce <br />Street in 7 year intervals. The City Engineer reported that the last time <br />Spruce was seal coated was in 2005. The City Administrator reported that <br />since the 1990's seal coating has been programmed on a consistent basis. <br />However, there has been some shifting of seal coating dollars based on <br />need and efficiencies in concentrating the work in particular areas of the <br />City. <br />There was no one else present from the general public whishing to <br />continent on this matter. <br />Upon motion by Montour, seconded by Keis, the public hearing was <br />closed. <br />Mr. Montour introduced the following resolution and moved its adoption: <br />RESOLUTION NO. 2012 -1 -17 — ORDERING IMPROVEMENT NO. <br />2012 -03, SPRUCE STREET FROM COUNTY ROAD C TO CUL -DE- <br />SAC, AND AUTHORIZING THE CITY ENGINEER TO PREPARE <br />PLANS AND SPECIFICATIONS FOR THIS IMPROVEMENT <br />The foregoing resolution was duly seconded by Keis. <br />Ayes (4). <br />Nays (0). Resolution declared adopted. <br />9 <br />