HomeMy WebLinkAboutCC RES 77-051 RESOLUTION RELATING TO DEFERMENT OF SPECIAL ASSESSMENTS FOR PERSONS 65 YEARS OF AGE OR OLDER AND ESTABLISHING AN INTEREST RATE Meeting Sheet
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105636
Box: 35
Folder: CC RES 1977
Document: CC RES 77-051 RESOLUTION RELATING TO DEFERMENT OF
SPECIAL ASSESSMENTS FOR PERSONS 65 YEARS OF AGE OR OLDER
AND ESTABLISHING AN INTEREST RATE
RESOLUTION 77-051
A RESOLUTION RELATING TO DEFERMENT OF SPECIAL
ASSESSMENTS FOR PERSONS 65 YEARS OF AGE OR OLDER
AND ESTABLISHING AN INTEREST RATE
WHEREAS, Minnesota Statutes Section 435.193 - 435.195 provides for
the deferment of special assessments and specifies the conditions under
which municipalities are authorized, on a voluntary basis , to defer such
assessments, and
WHEREAS, the City Council desires to establish a deferred assessment
policy for qualified applicants.
NOW, THEREFORE BE IT RESOLVED that the City Council does hereby ap-
prove of deferred assessments under the following conditions :
1. The property upon which the assessment is deferred must
be homesteaded,
2. The property- is owned by a person at least 65 years of age, and
3. The household income is not to exceed $9 ,000 .00 per year
or there is an otherwise verifiable financial hardship in
the household.
• BE IT FURTHER RESOLVED, that deferred assessments are to be charged
for interest at the same rate as the original assessment.
BE IT FURTHER RESOLVED, that the right to deferred assessments is
hereby terminated upon the occurance of any of the following events:
1. The death of the owner, provided that the spouse is other-
wise ineligible for the benefits,
2. The sale, transfer or subdivision of the land or any part
thereof,
3. The loss of homesteaded tax status, or
4. The determination that a hardship no longer exists .
BE IT FURTHER RESOLVED that the City Clerk is directed to provide
application -forms, as may be necessary, and to process said deferred
assessments upon the submission of an application signed by the qualified
person.
Adopted the 25t day of October 1977.
• Mayor
ATTEST:
City Clerk