HomeMy WebLinkAboutResolution 2007-042CITY OF LAKE ELMO
WASHINGTON COUNTY
STATE OF MINNESOTA
RESOLUTION NO. 2007-042
A RESOLUTION ESTABLISHING LATERAL WATER MAIN BENEFIT CHARGE AND
CONNECTION CHARGE PAYBACK PERIOD AND INTEREST RATE
FOR THE WATERMAIN INTERCONNECT PHASE I & 11 PROJECTS
WHEREAS, the Lake Elmo City Minnesota Codes Section 600.06 Subdivision (3)
provides as follows.-
If no assessment has been Levied, and no assessment
proceedings will be completed in due course, a sum equat
to the portion of the costs of constructing the trunk water
main facility and lateral water main has been paid as a
benefit charge to the City.
WHEREAS, the City Water System Interconnect Project Phases I & 11 are
complete.
WHEREAS, the City does not intend to specially assess lateral watermain benefit
charges; and
WHEREAS, the City does wish to provide property owners who connect to the
City Water System Interconnect Project Phases I & 11, the option of paying for the lateral
watermain benefit charges over a period of time pursuant to M.S. 444.075,
NOW THEREFORE, be resolved in regard to the City Water System Interconnect
Project Phases I & JI, property owners who choose to connect prior to September 1,
2007 shall have their lateral watermain benefit charge and connection charge spread
out over five (5) equal installments accruing interest at the rate of 5.75% per annum
provided that property owners have executed appropriate Lateral watermain Benefit
Charge Repayment Agreements with the City.
Dater i 2007
ATTEST:
Susan Hoyt
City Administrator
Fi\users\Jessica\Jerry\LE\Resolution Establishing Trunk Water Systern.v2.doc
CITY PF\LAKE EL
By:
Dean Johnston
Mayor