Agenda - Council - 04/22/1980 - Laserfiche WebLink

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4 5 6 7 9 10 ]! 16 sub~equ~n~ inst~i nt shall be added [nte for one yeEr on all unpaid installments; oz alternatively, any assessment may be aade payable in equal annual inst~ll~ents including principal ~nd interest, each in the amount ~nnually required to pa~ the principal over such'period with interest ~t such rate as the resolution determines, not excee.ding the naximum period and rate specified ~bove. in the I~tter event no prepayment ~hall be ~ccep[ed unde~ subdivision 3 ~ithout payment of all inst~llments due to and including December 31 of the ~e~r of prepay~ent~ together uith the oriBinal principal amount reduced onl~ by the amounts of principal included [n such [nstallments~ computed on an annual ~m.ortizat[on bas[s, ffhan payment of an assessment is deferred~ as ~uthorlzed in this subdivision, interest thereon for.the period of deferment principal installments of the assessment would ha?e been payable if not deferred; or interest for this period may be. 19 added to.the principal amount of the assessment when it 20 becomes payable; or, if so provided in the resolution 21 levying the assessment, interest thereon to December 31 of 22 the year before the first installment is payable may be 23 forgiven. 24 Sec. 6. Minnesota Statutes 1~78, Section 46Z.358, is 25 ar, ended by adding a subdivision to read: 26 Subd. 9. [UNPLATTED PARCELS-I Subdivision regulations 27 adopted by ~unicipal[ties ~y ~pp[y to p~rcels ~hich are 28 taken fro~, existing p~rcels of reco~d by metes ~nd bounds 29 descriptions, and the governing bcdy or building authority . 30 ~.~y deny the issuence of building permits to ~ny parceJs so 3l divided, pending compliance with subdivisicn regulations. 32 33 Sec. 7- [PR1CR SPECIfiL /L$SESSKE!;TS DEFERRED; NDTICE.! in the c~se 'of special ~ssessr..ents deferrer prior to the 7