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RESOLUTION NO. 6487 e CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA ADOPTING A SPECIAL ASSESSMENTS LEVY FOR THE HIDDEN HOLLOW STREET AND UTILITY INSTALLATION PROJECT WHEREAS, pursuant to proper notice given as required by law, the City Council has met and heard and passed upon all objections to the proposed assessment for the Hidden Hollow Street and Utility Installation Project. NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Mounds View that: 1. Such proposed assessment role, a copy of which is attached hereto and made a part hereof, is accepted and shall constitute the special assessment against the lands named therein, and each tract of land therein is hereby found to be benefited by the Hidden Hollow Street and Utility Installation Project in the amount of the assessment levied against it. . 2. The assessments, as adopted and confirmed, shall be payable in equal annual installments over a period of ten (10) years, the first of the installments to be payable on or before the first Monday in January 2006, and shall bear interest at the rate of five and one-half (5.5) percent per annum from March 29, 2005. To the first installment shall be added interest on the entire assessment from March 29, 2005 through December 31, 2005. To each subsequent installment when due shall be added interest for one year on all unpaid installments. 3. The owner of any property so assessed may at any time prior to the certification of the assessments to the County Auditor pay the whole of the assessment, with interest accrued to the date of payment, to the City Treasurer, except that no interest shall be charged if the entire assessment is paid by October 31, 2005; and the owner may, at any time thereafter, pay to the County Treasurer the entire amount of the assessment, with interest from the date of adoption of this resolution through the date of payment, such payment must be made before November 30th, or interest will be charged through December of the succeeding year. 4. The City Clerk shall forthwith transmit a certified duplicate of this assessment to the County Auditor to be extended on the property tax lists of the county, and such assessments shall be collected and paid over in the same manner as other municipal taxes. .