09/21/1987 Council Minutes (2) - Laserfiche WebLink

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328 COUNCIL SPECIAL MEETING SEPTEMBER 21, 1987 hereto and made a part hereof, 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 pro- posed improvement in the amount of the assessment levied against it. 2. Such assessment shall be payable in equal annual in- stallments extending over a period of fifteen years, the first of the installments to be payable on or before the first Monday of January, 1988 and shall bear interest at the rate of nine (9) per cent per annum from the date of the adoption of this assess- ment resolution. To the first installment shall be added interest on the entire assessment from the date of this resolution until December 31, 1987. 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 Treasurer, except that no interest shall be charged if the entire assessment is paid with- in thirty (30) days from the adoption of this resolut- iion; and he may, at any time thereafter, pay to the City Treasurer the entire amount of the assessment remaining unpaid, with interest accrued to December 31, of the year in which such payment is made. Such pay- ment must be made before October 15, or interest will be charged through December 31 of the next succeeding year. 4. The Clerk shall forthwith transmit a certified dupli- date 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 Council this twenty first day of September, 1987. PAGE 10