1984 City Charter - Laserfiche WebLink

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assessmen~l, the payment of which is so deferred, when it becomes payable,~s~ali be divided into a number of installments such that the last i~stAllment thereof will be payable not more than thirty years af~e~ t~e levy of the assessment. - Ail assessments shall bear interest at such a rate as the resoluti~n!ide~ermines, not exceeding the maximum permitted by law, except t~at the rate may in any event equal the average annual interest rate on bonds issued to finance the improvement for which ~helassessments are levied. To the first znstallment of each ~s~es~ment shall be added znterest on the entzre assessment!ifr~TM a date specified in the resolution levying the assessment~, n~t earlier than the date of the resolution, until December 3! o~ the year in which the first installment is payable, a~d ~o each subsequent installment shall be added interest 'fpr ~ne year on all unpaid installments; or, alternat~v~ly~ any assessment may be made payable in equal annual installments ~ncluding principal and interest, each in the amount annually r~qu~red to pay the principal over such period with interest a~ s~ch rate as the resolution determines, not exceeding the maximU~ p~iod and rate specified above. In the latter event, no ~re~ayment shall be accepted under Subdivision 3 · without p~me~t of all installments due to and including December 31 of the ~ea~ of prepayment, together with the original principal ~mount reduced only by the amounts or principal included i~ sU~Ch installments, computed on an annual amortization basis. When p~yment of an assessment is deferred, as authorized in this s~di~ision, interest thereon for the period of deferment may be ma~ pa~able annually at the same times as the principal installments o~ the assessment would have been payable if not ~ ~terest for this period may be added to the deferred; qr '~ principal~mou~t of the assessment when it becomes payable; or, if so proV~dedi in the resolution levying the assessment, interest thereon roi!December 31 of the year before the first instllment is payable m~y be~ forgiven. Subdivisio~ 3.i Transmitted To Auditor. Premayment. After the adoption Of th~ assessment, the Clerk shall transmit a certified duplicate Of the assessment roll with each installment, including interest, s~t forth separately to the Anoka County Auditor to be extended O~ th~ proper tax of the County; but in lieu of such certification, the Council may in its discretion direct the Clerk to f~le ~11 assessment rolls in his office and to certify annually ~Oi th~ County Auditor on or before October 10 in each year, the~tbta~ amount of installments of and interest on assessments~ onleach parcel of land in the City which are to become due [in ~he following year. If any installment and interest hs~' n~t been so certified prior to the year when it is due, the Cl!erk!shall forthwith certify the same to the County Auditor f0~ico!lection the then succeeding year; and if the City has issued :~mp~ovement warrants to finance the improvement, it shall pay o~t ~f its general funds into the fund of the improveme~t~ interest on the then unpaid balance of the assessmeng for the year or years during which the collection of