HomeMy WebLinkAbout1997-033 Council OrdinancesCouncil member introduced the following ordinance and
move its adoption:
CITY OF LINO LAKES
ORDINANCE NO. 33-97
EMERGENCY ORDINANCE ALLOWING PARTIAL PREPAYMENTS
ON ASSESSMENTS
WHEREAS, The City of Lino Lakes does not have a current ordinance allowing partial
prepayments on assessments, and
WHEREAS, accepting partial prepayments on assessments greater than $100,000 is financially
smart for the City, and
WHEREAS, the City can invest the funds to earn high interest.
NOW THEREFORE BE IT RESOLVED, that the Lino Lakes City Council adds Section 303.11 to
the City Code. The Section will read as follows:
Section 303.11. Allowing partial prepayments on assessments.
The City will accept partial payments on assessments exceeding $100,000.
This ordinance shall become effective immediately upon its passage by the City Council.
Adopted by the City Council of Lino Lakes this 27th day of October, 1997.
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Marilyn G. Anderson, Clerk Treasurer
o Landers - Mayor
The motion for the adoption of the foregoing ordinance was duly seconded by
and upon vote being taken thereon, the following voted in favor thereof:
The following voted against same:
Where upon said ordinance was declared duly passed and adopted: