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RESOLUTION 1999 - 18 <br />A RESOLUTION MODIFYING THE ASSESSMENT COLLECTION STRUCTURE FOR THE <br />129TH STREET PUBLIC IMPROVEMENT PROJECT <br />WHEREAS, the Council adopted Resolution 1999-2 on February 1, 1999; and <br />WHEREAS, Resolution 1999-2 set the terms of collection on the <br />assessments for the 129th Street Public Improvement Project; and <br />WHEREAS, certain events have delayed the extension of municipal water <br />and sanitary sewer along 129th Street until the 2000 construction <br />season; and <br />WHEREAS, the terms of collection on the assessments need to reflect the <br />above mentioned delay. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF HUGO, MINNESOTA: <br />1. Such assessments shall be payable in equal annual installments <br />extending over a period of 15 years, the first of the installments <br />to be payable on or before the first Monday in January, 2001, and <br />shall bear interest at the rate of 8 percent per annum from the <br />date the city council accepts the public improvements. To the <br />first installment shall be added interest on the entire assessment <br />from the date the city council accepts the public improvements <br />until December 31, 2001. To each subsequent installment when due <br />shall be added interest for one year on all unpaid installments. <br />2. The owner of any property so assessed may, at any time prior to <br />certification of the assessment to the County Auditor, pay the <br />whole of the assessment on such property, with interest accrued to <br />the date of payment, to the City Clerk and he may, at any time <br />thereafter, pay to the City Clerk the entire amount of the <br />assessment remaining unpaid, with interest accrued to December 31 <br />of the year in which such payment is made. Such payment must be <br />made before November 15 or interest will be charged through <br />December 31 of the next succeeding year. <br />3. The owner of any property so assessed who has prepaid their <br />assessment with interest pursuant to Resolution 1999-2 shall <br />receive a full refund of all interest paid. <br />Upon roll call, the following Council Members voting AYE: Barnes, Haas, <br />Leroux, Petryk, and Stoltzman. <br />Upon roll call, the following Council Members voting NAY: None. <br />Whereupon said resolution was declared passed and adopted this 15th day <br />of November, 1999. <br />Walter <br />fStoltzma , Mayor <br />A,TTEST: <br />Mary n Creager, C' Clerk <br />