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CITY OF LAKE ELMO <br />WHEREAS, pursuant to proper notice duly given as required by law, the City Council has met <br />and heard and passed upon all objections to the proposed assessment for the Well No. 4 Connecting <br />Watermain Improvements. <br />1. Such proposed assessment, a copy of which is attached hereto and made a part hereof, is hereby <br />accepted and shall constitute the special assessment against the lands named therein, and each <br />tract of land therein included is hereby • to be benefited by the proposed improvement in the <br />amount of the assessment levied against it, <br />1 Such assessment shall be payable in equal annual installments extending over a period of 15 <br />years, the first of the installments to be payable on or before the first Monday in January, 2015, <br />and shall bear interest at the rate of 4.61 % percent per annum, from the date of the adoption of the <br />assessment resolution. To the first installment shall be added interest on the entire assessment <br />from the date of this resolution until December 31, 2014. To each subsequent installment, when <br />due, shall be added interest for one year on all unpaid installments. <br />3. The owner of any property so assessed may, at any time prior to the certification of the <br />assessment to the county auditor, pay the whole of the assessment on such property, with the <br />interest accrued to the date of payment, to the City Clerk, except that no interest shall be charged <br />if the entire assessment is paid within 30 days from the adoption of this resolution; and he/she <br />may, at any time thereafter, pay to the City Clerk the entire amount of the assessment remaining <br />unpaid, with interest accrued to December 31 of the year in which such payment is made. Such <br />payment must be made before November 21 or interest will be charged through December 31 of <br />the next succeeding year. <br />4. The City Clerk shall forthwith transmit a certified duplicate of this assessment to the County <br />Auditor to be • on the property tax lists of the county. Such assessments shall be collected <br />and paid over in the same manner as other municipal taxes. <br />ADOPTED BY THE LAKE ELM* CITY COUNCIL ON THE TWENTY FIRST DAY OF <br />(Seal) <br />ATTEST: <br />Adam �Beli <br />City Clerk <br />CITY OF LAKE ELMO <br />Mike Pearson <br />Mayor <br />