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RESOLUTION NO. 111 i': _. ., I. , ♦ IM a WHEREAS, pursuant to proper notice duly given as required by law, the Council has znt and heard and passed upon all objections to the proposed assessment for the Old Village Phase 3 Street, Drainage, and Utility Irnprovernents including street, drainage, waterinain and sanitary sewer inn rovements along 31 st Street. North, Laverne Court; Layton Court, and Laveme Avenue North, NOW, THEREFORE, BE IT RESOLVED. I. Such proposed assessment, a copy of which is attached 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 proposed improvement in the airrount of the assessment levied against it. 2. Such assessment shall be payable in equal annual installments extending over 15 years for street and drainage improvements and 20 years for watermain and sanitary sewer improvements, the first of the installments to be payable on or before the first Monday in January, 2019 and shall bear interest at the rate of 3.26% percent per annum from the adoption date of this assessment resolution: for the street and drainage improvements and, sanitary sewer improvements, and shall hear interest at the rate of 3.30% percent per annum from the adoption date ofthis assessment; resolution for the watermain improvements. To the first installment shall be added interest on the entire assessment from the date of this resolution until December 31, 2018. To each subsequent installment, when due, shall be added interest for one year on all unpaid installments. . The owner of any property so assessed may, at any time prior to the certification of the assessment to the county auditor, pay the whole of the assessment on such property, with the interest accrued to the date of payment, to the City Clerk, except that no interest shall be charged if the entire assessment is paid within 30 clays from the adoption of this resolution; and he/she may, at any time thereafter, pay to the City Clerk 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 October 31 or interest will be charged through December 31 of the next succeeding year, 4. The City Clerk shall forthwith transn t 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 LAKE ELMO CITY COUNCIL ON THE SIXTEENTH DAY OF O TOBER, 2018. CITE' OF LAKE ELMO (Seal) Zli T: lrnson City Clerk y. Mike Pearson; Mayor