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CITY OF LAKEVILLE
RESOLUTION
Date September 25, 1986 Resolution No. 86-107B
Motion by Enright Seconded by Sindt
RESOLUTION ADOPTING DEFERRED ASSESSMENT
IMPROVEMENT PROJECT 84-2
HIGHWAY 50, COUNTY ROAD 5, NEAR I-35, IMPROVEMENTS
WHEREAS, pursuant to proper notice duly given as required by
law, the council has met, heard and passed upon all objections to the
proposed assessment for improvement project 84-2, Highway 50, County
Road 5, near I-35, Improvements.
NOW, THEREFORE, BE IT RESOLVE by the City Council of Lakeville,
Minnesota:
1. Such proposed assessment No. 309 and 311 in the amount of $46,099.20
and $23,846.55, respectively, a copy of which is attached hereto and
made a part hereof, is hereby accepted and shall constitute the
special assessment against the lands named therein, and each tract
of land therein included is hereby found to be benef ited by the
proposed improvement in the amount of the assessment levied against
it.
2. Such assessments shall be considered deferred, without interest,
until the parcel is subdivided (through final plat stage) or a
commercial building permit is issued. At such time, the assessment
shall automatically be considered "reassessed" in accordance with
the terms stated below. If, however, such reassessment has not
started prior to September 25, 2016, the entire assessment will be
considered abated in accordance with Minnesota Statutes 429.
3. Such reassessment shall be payable in equal annual installments
extending over a period of 20 years. The reassessment shall bear
interest at the rate of 10.7 percent per annum. To each subsequent
• installment when due shall be added interest for one year on all
unpaid installments.
F . .
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• 4. The owner of any property so reassessed may pay to the city treas-
urer the entire amount of the assessment remaining unpaid, with
interest accrued to December 31 of the year in which such payment is
made. Such payment must be made bef ore October 15, or interest will
be charged through December 31 of the next succeeding year.
5. The clerk shall forthwith transmit a certified duplicate of this
assessment to the county auditor to be extended on the proper tax
lists of the county, and such assessments shall be collected and
paid over in the same manner as other municipal taxes.
ADOPTED by the City Council of the City of Lakeville, Minnesota
25th day of September, 1986.
CITY OF LAKEVILLE
BY:
Duane Zaun, or
• ATTEST:
r
atrick E. McGarvey, City lerk
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