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RESOLUTION 2013 -19 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HUGO, <br />WASHINGTON COUNTY, MINNESOTA, <br />ADOPTING SPECIAL ASSESSMENT POLICIES <br />WHEREAS, the City Council deems it advisable and in the best interest of the City of <br />Hugo to adopt policies relating to special assessments. <br />WHEREAS, the City Council intends that these policies not be construed as exclusive but <br />instead to provide general guidelines for addressing assessments in the City, and in enacting <br />these policies, the City Council acknowledges that special cases and variations may be required <br />based on the particular facts present in any given situation. <br />NOW, THEREFORE, IT IS HEREBY RESOLVED by the City Council of the City of <br />Hugo that the following assessment polices will be followed for all public improvements in the <br />City of Hugo: <br />1. Assessment Amount <br />A. The grand total of the assessments related to a project cannot exceed the City's total <br />project cost. <br />B. The amount of any individual assessment cannot exceed the special benefit to the <br />property. In this case, special benefit is defined as the increase in the market value of the <br />property because of the improvement. <br />2. When Assessments Will Not be Levied <br />A. No special assessments will be levied against designated flood plans, municipal storm <br />water ponds, or wetland areas on private property as determined by criteria in the <br />Wetland Conservation Act of 1991 and the Minnesota Department of Natural Resources. <br />The limits of wetlands will be determined by the City on a case-by-case basis at the time <br />of preliminary project design and feasibility report preparation. <br />B. No special assessments will be levied against railroad, county highway, or state highway <br />right-of-ways. <br />3. Interest Rate <br />A. The rate of interest on assessments for which bonds were issued to finance the project <br />shall be two percent (2%) greater than the rate of interest on the bonds. In the event that <br />no bonds were issued to finance the project, the rate of interest shall be two percent (2%) <br />greater than the average rate of interest on all bonds issued in the prior calendar year, or if <br />no bonds were issued in the prior calendar year, two percent (2%) greater than the current <br />bond market rate for the City of Hugo. <br />