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AWK6121106-1 , <br />I: 4TQ • L I lk Eel ►Z5tjI <br />WHEREAS, pursuant to the development agreement dated April 26, 2024, the developer waives all <br />rights to a hearing on conducting of local improvements which will benefit the properties within <br />the Jansen Addition development which requested connection to City utilities, <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of Lino Lakes: <br />Such proposed assessment, a copy of which is attached hereto and made a part thereof, <br />is hereby accepted and shall constitute the special assessment against the lands named <br />therein, and each tract of land therein included is hereby found to be benefited by the <br />proposed improvement in the amount of the assessment levied against it. <br />2. Such assessment shall be payable in equal annual installments extending over a period of <br />fifteen years, the first installment to be payable on or before the first Monday in January, <br />2025, and shall bear interest at the rate of five percent (5%) per annum from the date of <br />the adoption of this assessment resolution. To the first installment shall be added <br />interest on the entire assessment from the date of this resolution until December 31, <br />2024. To each subsequent installment when due shall be added interest for one year on <br />all unpaid installments. <br />The owner of any property so assessed may, at any time prior to certification of the <br />assessment to the County Auditor, pay the whole of the assessment on such property, <br />with interest accrued to the date of payment, to the City, except that no interest shall be <br />charged if the entire assessment is paid within 30 days from the adoption of this <br />resolution; and the owner may, at any time thereafter, pay to the City the entire amount <br />of the assessment remaining unpaid, with interest accrued to December 31 of the year in <br />which such payment is made. Such payment must be made before November 15 or <br />interest will be charged through December 31 of the next succeeding year. <br />4. The clerk shall forthwith transmit a certified duplicate of this assessment to the County <br />Auditor to be extended on the property tax lists of the County. Such assessments shall <br />be collected and paid over in the same manner as other municipal taxes. <br />Adopted by the City Council of Lino Lakes, Minnesota this 14th day of October, 2024. <br />Rob"Ra ferty, Mayor <br />ATTEST: <br />Roberta Colotti, City Clerk <br />