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Lino Lakes Charter Commission <br />20June95 <br />Chapter 8 Amendment Proposal 2 <br />8.04 Special Assessment Limitations <br />Any special assessment value to a property in excess of either (the <br />lower of) t 0% of the assessed property value, or $25, 000 will be <br />deferred until the sale anti/or subdivision of that property (at which <br />time the deterred assessment value will be payable in iull, including <br />interest charges at a rate not to exceed 1% in excess of ihe rate <br />obtained by The city on the improvement financing). <br />8.05 Timing of Special Assessment Payments <br />The assessment levied wilt be spread evenly over a minimum of tern <br />(10) years. <br />3.06 Additional improvement Funding <br />Improvement costs not covered by special assessments may he funded <br />through general funds. <br />