Laserfiche WebLink
thereof: <br />the issuance of the bonds by the City to finance the improvements. To the first <br />installment shall be added interest on the entire assessment from the date ofthe <br />bond sale until May 15, 2015. To each subsequent installment when due shall <br />be added interest for one year on all unpaid installments. Not withstanding the <br />May 15, 2015 first installment date, in the even Hagemen Holdings, LLC <br />conveys either of the said Outlots to a third party not affiliated with said LLC, <br />the first installment of the special assessments may be accelerated by the City to <br />the May 15 next succeeding the date of such conveyance. <br />Please note at this time it is not possible to set the specific interest rate applicable <br />to the special assessment as the City's bonds are not scheduled to be sold until <br />August 9, 2011. <br />3. The owner of any property so assessed may, at any time prior to certification of the <br />assessment to the County Auditor, pay the whole of the assessment on such property, <br />with interest accrued to the date of payment, to the City Finance Officer, except that <br />no interest shall be charged if the entire assessment is paid within 30 days from the <br />adoption of this resolution; and he /she may, at any time thereafter, pay to the City <br />Finance Officer the entire amount of the assessment remaining unpaid, with interest <br />accrued to December 31 of the year in which such payment is made. Such payment <br />must be made before November 15 or interest will be charged through December 31 <br />of the next succeeding year. <br />4. The City Clerk shall forthwith transmit a certified duplicate of this assessment to the <br />County Auditor to be extended on the property tax lists of the County. Such <br />assessment shall be collected and paid over in the same manner as other municipal <br />taxes. <br />The motion for the adoption of the foregoing resolution was fully seconded by Councilmember <br />, and upon vote being taken thereon, the following voted in favor <br />and the following voted against the same: <br />and the following abstained: <br />and the following were absent: <br />whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this <br />26th day of July, 2011. <br />2 <br />