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Lino Lakes Charter Commission <br /> 25Ju195 <br /> Impact of Amendment <br /> • Allows use of general funds for public improvements <br /> • Removes ability of benefited properties to stop a public improvement <br /> Current charter stops an improvement if >50% of benefited property <br /> owners petition against it <br /> Amendment reverts this control back to State Statute 429 which <br /> requires initiation of a public improvement by one of two methods, <br /> but then does not provide for petition rights to stop improvement. <br /> To initiate requires: <br /> Petition for improvement by 35% of benefited owners, <br /> and majority council vote, or; <br /> 4/5 majority council vote <br /> • Provides a cap on assessments levied in effort to prevent owners being <br /> forced to sell or subdivide land to finance an assessment <br /> • Deferred assessments payable at sale or subdivision of property in <br /> fairness to taxpayers <br /> • Allows city to more easily plan, coordinate and manage improvements <br /> • Simplifies complicated and tangled language of current chapter 8 <br /> • Other redundant charter codifications: <br /> - Assessments limited to benefits received (SS 429) <br /> - Provides 10 year minimum spread of assessment (policy - 15 years) <br /> Establishes interest rate limit (policy) <br />