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Council member introduced the following ordinance and <br /> move its adoption: <br /> CITY OF LINO LAKES <br /> ORDINANCE NO. 33-97 <br /> EMERGENCY ORDINANCE ALLOWING PARTIAL PREPAYMENTS <br /> ON ASSESSMENTS <br /> WHEREAS, The City of Lino Lakes does not have a current ordinance allowing partial <br /> prepayments on assessments,and <br /> WHEREAS, accepting partial prepayments on assessments greater than $100,000 is financially <br /> smart for the City, and <br /> WHEREAS,the City can invest the funds to earn high interest. <br /> NOW THEREFORE BE IT RESOLVED, that the Lino Lakes City Council adds Section 303.11 to <br /> the City Code. The Section will read as follows: <br /> Section 303.11.Allowing partial prepayments on assessments. <br /> The City will accept partial payments on assessments exceeding$100,000. <br /> This ordinance shall become effective immediately upon its passage by the City Council. <br /> Adopted by the City Council of Lino Lakes this 27th day of October, 1997. <br /> Jo Landers-Mayor <br /> n <br /> M rilyn& Anderson,Clerk Treasurer <br /> The motion for the adoption of the foregoing ordinance was duly seconded by <br /> and upon vote being taken thereon,the following voted in favor thereof: <br /> The following voted against same: <br /> Where upon said ordinance was declared duly passed and adopted: <br />