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.NUTES <br />,ity Council <br />January 27, 1982 <br />1. The property must be homestead property; <br />2. The owner must be at least 65 years of age or older <br />and in the case of husband and wife, one person must meet <br />the age requirement; <br />3. The owner will make application for deferred payment of <br />special assessments on forms prescribed by the Ramsey County <br />Auditor and will make application to the City of Little <br />Canada on forms provided by the City; <br />4. The application for said deferment must be filed with <br />the City prior to the adoption of the City of the resolution <br />adopting the assessment roll; <br />5. The City Council will consider each application on an <br />individual basis. However, the Council's general policy is <br />to grant special assessment deferments when the property <br />owner has filed an affidavit with the City Clerk verifying <br />that annual payment for the special assessment exceeds 2% <br />of the adjusted gross income of the owner as determined by <br />the most recent Federal tax return. <br />6. The deferment shall terminate and all amounts accumulated <br />plus applicable interest, shall become due, if any of the <br />following occur: <br />a. The death of the owner, provided that the spouse <br />is otherwise not eligible for the benefits hereunder; <br />b. The sale, transfer or subdivision of the property <br />or any part thereof; <br />c. If the property for any reason loses its homestead <br />status; or <br />d. If for any reason the City Council determines that <br />there would be no hardship to require immediate or <br />partial payment. <br />7. Upon termination of the deferment the Council, at its <br />discretion may provide for installment payments of the deferred <br />assessment within the term of the original assessment. <br />AND FURTHER REFLECTING THAT THIS POLICY BE APPLIED ONLY <br />TO FUTURE ASSESSMENTS AND ALL APPLICATIONS FOR DEFERRMENT <br />BE TREATED WITH THE UTMOST CONFIDENTIALITY AND DECLARING <br />THAT THE COUNCIL REVIEW THESE DEFERRED ASSESSMENTS EVERY <br />FIVE YEARS <br />The foregoing resolution was duly seconded by Mrs. Scalze. <br />Ayes (3) Fahey, Scalze, Nardini. <br />Nayes (2) Hanson, Forsberg. <br />Resolution declared adopted. <br />This resolution appears in Resolution Book( No. 8, Pages 27, 28 and 29. <br />Page -12- <br />PAGE -28 <br />