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..' ~ ".... 1II.. .'..~~ RESOLUTION NO. 83-102 STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF NEW BRIGHTON RESOLUTION GRANTING SPECIAL ASSESSMENT DEFERRAL PURSUANT TO MINNESOTA STATUTES, SECTION 429.061, SUBD. 2 TO OWNER OF PROPERTY CODED 63-01900-060-54, 63-01900-070-54, AND 63-01900-190-55 WHEREAS, Minnesota Statutes, Section 429.061, Subd. 2 provides that cities may defer special assessments upon unimproved, property; and WHEREAS, the owner of property coded 63-01900-060-54, 63-01900- 070-54, and 63-01900-190-55 has objected to assessments against such parcels but has agreed to waive objections thereto in consid- eration of the deferral of special assessments as hereinafter provided; and WHEREASr in consideration of said waiver, and having deter- mined that deferral of the special assessments as hereinafter provided is appropriate and in the public interest; NOW THEREFORE BE IT RESOLVED by the Council of the City of New Brighton that special assessments for city improvement project 82-8 be and hereby are deferred as to properties coded 63-01900-060-54, 63-01900-070-54, and 63-01900-190-55, subject to the following conditions: 1. The assessments shall be spread over a period of time equal to the period of time over which assessments for project 82-8 are spread as to other assessed properties. 2. Interest shall accrue from the same date and at the same rate applied to other assessments for project 82-8. 3. Interest payments on the entire principal amount shall be included in the tax rolls completed in 1983 and shall be payable together with taxes due and payable in 1984, and in each year thereafter until the first payment of principal made pursuant to the following paragraph. 4. The first principal payment and all annual principal payments deferred hereby shall be included in the first tax rolls completed after the occurrence of any of the following events, whichever occurs first: a. The improvement of anyone or more of the parcels on which assessments are hereby deferred; or b. The sale of anyone or more of the parcels on which assessments are hereby deferred; or c. The approval of a final plat of any part of any one or more of the parcels on which assessments are hereby deferred; or d. Ten years from the date of this resolution; or e. Failure to pay any interest installment when due. 5. In years subsequent to the year of the payment of first principal payment pursuant to the preceding paragraph, interest shall continue to accrue on unpaid principal amounts and shall be payable together with remaining annual installments of principal. Adop~~9-__t!1~s 23rd day of August , 1983. c~-/7 .,:.1'/ ,d1"1 ATTES'l' C -~-- -: ...- . ~n Fib.ance nirc.ctor Gregoq ~.. l' // ,.., " ~.- 'James F. Winkels, ,/