Laserfiche WebLink
• <br />No. 98-15 <br />CITY OF FALCON HEIGHTS <br />COUNCIL RESOLUTION <br />Date: June 24, 1998 <br />------------------------------------------------------------ <br />RESOLUTION ADOPTING ASSESSMENT OF 1998 HOYT AVENUE IMPROVEMENT <br />PROJECT <br />WHEREAS, pursuant to proper notice duly given as required by law, the city council <br />of the City of Falcon Heights has met and heard and passed upon all objections to the <br />proposed assessments for the 1998 improvements of Hoyt Avenue; and <br />WHEREAS, the properties proposed to be assessed include those properties abutting <br />Hoyt Avenue between Fulham Street and Cleveland Avenue. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF FALCON HEIGHTS, <br />MINNESOTA: <br />• The city finds that each parcel of land named in the assessment is benefitted by the <br />proposed improvements in the amount of the assessment the city proposed to levy against it <br />in the assessment. <br />The city accepts the assessment and levies a special assessment against each parcel <br />of land named in the assessment in the amount in the assessment. <br />The special assessment shall be payable in equal annual installments of principal <br />extending over a period of ten (101 years. The special assessment shall bear interest at a rate <br />of seven percent 17%) per annum from the date of this resolution. The first installment of <br />principal shall be due and payable on or before the first Monday in the first January following <br />the date of this resolution, together with interest which has accrued through December 31 of <br />the preceding year. <br />Each owner of property that is subject to this special assessment may, at any time <br />before certification of the assessment to the county auditor, pay to the city the principal <br />amount plus accrued interest then owing, providing the city shall not charge interest if the <br />entire assessment is paid within thirty (30) days of the date of this resolution. At any time <br />on or before November 15 of each year in which the assessment is outstanding, a property <br />owner may prepay the assessment by paying to the city an amount equal to the principal then <br />outstanding, plus interest through December 31 of the year in which the property owner <br />prepays. Any prepayment made after November 15 must include interest through December <br />31 of the following year. <br />• <br />