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Lino Lakes Charter Commission <br />2OJune95 <br />Chapter 8 Amendment Proposal 2 <br />8.01 Special Assessment_Limitations <br />Any special assessment value to a property in excess of either (the <br />lower af) 10% of the assessed property value, or $25, 000 will be <br />deferred until the sale and/or subdivision of that property (at which <br />time the deferred assessment value will be payable in full, including <br />interest charges at a rate not to exceed 1% in excess of the rate <br />obtained by the city on the irnproverneni financing). <br />8.05 Timing of Special Assessment Payments <br />The assessment levied will be spread evenly over a minimum of ten <br />(10) years. <br />8.06 Additional Improvement Funding. <br />Improvement costs not covered by special assessments may be funded <br />through general funds. <br />