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Case #2: <br /> <br />Establishing of an Assessment Policy in regards to Which Approach <br />Should be Used - A) Equal Principal and Interest Payment for Duration <br />of Bond Payoff or B) Equal Principal with Declining Interest Payment <br />for Duration of Bond Payoff: <br /> <br />City Administrator Schnelle discussed with Council the merits why the City should <br />establish an assessment policy whereby we would use the equal principal with de- <br />clining interest payment. This approach would save the citizens money who are <br />involved in public improvement projects which are being assessed. Further, it <br />will also be far better for the City in maintaining accounting control, etc. at <br />the County level. <br /> <br />Motion by Councilman Reimann and seconded by Councilman Cox to adopt the assessment <br />policy which has a equal principal payment with a declining interest payment. This <br />policy will apply to all public improvement projects' which are assessed out. <br /> <br />Motion carried. <br />and Sorteberg. <br /> <br /> Voting yes: Mayor Gamec, Councilmembers Re,mann, Cox, t~a~-Wa~.Rer <br />Voting no: None. d~,~'~ ~'~c~'~.~,k~ 13o,~ ~k.. <br /> <br />The meeting adjourned at 7:25 p.m. <br /> <br />Sp C/September 7, 1982 <br /> Page 2 of 2 <br /> <br /> <br />