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CITY COUNCIL MEETING, OCTOBER 19, 1982 -4- 5. KEATS AVENUE ASSESSMENT HEARING Continued --Bohrer - Noted that the proposed assessment is less than the estimate indicated at the Feasibility Hearing. --Eder - would like to set a modified grace period, not neces- sarily October, if the standard is 30 days, to get everything complete,, possibly 60 days because of the errore If.collect the interest, reimburse it. Go on the tax rolls, interest accrued and paid to the City, but reimburse the interest for the period 30 days hence until October 1, 1983. --Bohrer - believes the City must give at'ledst 30'dayo,. The $22,000_that _is not eligible for State Aid reimbursement; , the City is paying this out of some funds. --Mottaz - those residents who choose to pay this annually through their taxes will not get the benefit of one year free interest that those that prepay get. They will be paying interest for all of 1983. --Bohrer - suggested not assessing any interest for the remainder of 1982. The Council agreed. - - Mayor Eder closed the hearing at 8:50 p.m. M/S/P Fraser/ Mottaz to adopt Resolution 82-53, a resolution accepting the assessment figure of $22,705.61 and the assessment roll, -as presented by th.e'Engineer, for the Keats -Avenue' Improvement Projects •.And, adopting a 10 year annual payment term, with interest accruing as of January 1, 1983 at an annual rate of 8%, Assessments to be certified to the County for collection with 1983 property taxes. Carried 4-0. Intent of the Administrator's letter will be clarified. All property owners will be notified of their final assessment. 'amended *anextension to November 15 11/3/82 M/S/P Mottaz/Fraser to apprompletion of the Keats Avenue Improvement Project, per the'. -Engineer's letter of October 13, 1982. Carried 4-0. 6. LEMIRE SEWER ASSESSMENT HEARING: Mayor Eder opened the hearing at 8:00 p.m. There was no audience in attendance for the hearing. The proposed assessment for the Lemire sewer replacement is $1,875.48. Council action requires accepting or modifying the assessment, determining - the interest rate; and the term over which the assessment should be collected. The Engineer distributed a sheet outlining equal annual payments over a 5, 10, and 15 year period,_ He recommended that the term not exceed 10 years, The Council determined that 10% interest was a reasonable rate over a 10 year period, - ' Lemire's did not attend the hearing or send written comments. M/S/P Mottaz/Fraser to adopt Resolution 82-54, a resolution accepting the assessment amount of $1,875.48, for the Lemire Sewer Replacement, and adopting a ten year annual payment term with interest accruing 30 days from October 19, 1982, at an annual rate of 100-6. Assessment to be certified to Washington County for collection with 1983 property taxes. Carried 4-0.