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CITY OF LINO LAKES RESOLUTION NO . 23412 ADOPTING SPECIAL ASSESSMENTS , BLUEBILL PONDS 2ND ADDITION WHEREAS , pursuant to the development agreement dated September 28 , 2023 , the developer waives all rights to a hearing on conducting of local improvements which will benefit the properties within the Bluebill Ponds 2nd Addition development which requested connection to City utilities , NOW, THEREFORE , BE IT RESOLVED by the City Council of Lino Lakes : 1 . Such proposed assessment , a copy of which is attached hereto and made a part thereof, is hereby accepted and shall constitute the special assessment against the lands named therein , and each tract of land therein included is hereby found to be benefited by the proposed improvement in the amount of the assessment levied against it . 2 . Such assessment shall be payable in equal annual installments extending over a period of fifteen years , the first installment to be payable on or before the first Monday in January , 2024 , and shall bear interest at the rate of five percent ( 5 % ) per annum from the date of the adoption of this assessment resolution . To the first installment shall be added interest on the entire assessment from the date of this resolution until December 31 , 2023 . To each subsequent installment when due shall be added interest for one year on all unpaid installments . 3 . The owner of any property so assessed may , at any time prior to certification of the assessment to the County Auditor, pay the whole of the assessment on such property, with interest accrued to the date of payment , to the City, except that no interest shall be charged if the entire assessment is paid within 30 days from the adoption of this resolution ; and the owner may , at any time thereafter , pay to the City the entire amount of the assessment remaining unpaid , with interest accrued to December 31 of the year in which such payment is made . Such payment must be made before November 15 or interest will be charged through December 31 of the next succeeding year . 4 . The clerk shall forthwith transmit a certified duplicate of this assessment to the County Auditor to be extended on the property tax lists of the County . Such assessments shall be collected and paid over in the same manner as other municipal taxes . Adopted by the City Council of Lino Lakes , Minnesota this 23rd day of October , 2023 . r ow Ro ferty , Mayor ATTEST : Jolleen Chaika , City Clerk