RES 18-66CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2018-66
ADOPTING ASSESSMENT OF
SANITARY SEWER AND WATER CHARGES
TO LOT 1, BLOCK 1, BURY INDUSTRIAL PARK-
WHEREAS,
ARK
WHEREAS, Bury Manufacturing, LLC is the Owner of the property legally identified as 118-
322-001010, Lot 1, Block 1, Bury Industrial Park; and
WHEREAS, Bury Manufacturing, LLC as Owner, has petitioned the City for assessments
related to Sewer and Water Availability Charges; and
WHEREAS, Bury Manufacturing, LLC as Owner, has petitioned the City for assessments
related to Sewer and Water Connection Charges; and
WHEREAS, the City of Otsego has agreed to special assessments against the property; and
WHEREAS, Bury Manufacturing, LLC as Owner, has previously waived any and all hearings,
irregularities in procedure and any and all rights of appeal under Minnesota Statute or any other
right of appeal pursuant to Paragraph 32 of that document entitled Development Agreement Bury
Industrial Park — Lot 1, Block 1, dated June 8, 2018 and recorded at the Wright County
Recorder's Office on June 8, 2018 as Document No. Al371921.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
OTSEGO, MINNESOTA:
1. Such proposed assessment, attached hereto as Exhibit A and made a part hereof, are
hereby accepted and shall constitute the special assesment against the properties named
therein and that the tract of land therein included is hereby found to be benefited by the
improvements in the amount of the assessment levied against it.
2. Such assessment for Sewer and Water Availability Charges and for Sewer and Water
Connection Charges against 118-322-001010, Lot 1, Block 1, Bury Industrial Park in the
principal amount of $245,069.50, shall be payable in equal annual installments extending
over a period of seven (7) years, the first of the installments to be payable on or before
the first Monday in January 2019, and shall bear interest at the rate of 4.10% percent per
annum. Said interest will commence on January 1, 2019. To each subsequent installment
when due shall be added interest for one year on all unpaid assessments.
The owner of any property so assessed may, at any time prior to certifications of the
assessment to the County Auditor, pay the whole of the assessment on such property,
with interest accrued to the date of payment, to the City of Otsego, except that no interest
shall be charged if the entire assessment is paid within 30 days from the adoption of this
resolution; and the owner may, at any time thereafter, pay to the City of Otsego the entire
amount of the assessment remaining unpaid, with interest accrued to December 31 of the
year in which such payment is made. Such payment must be made before November 15
or interest will be charged through December 31 of the next succeeding year.
4. The Finance Director shall forthwith transmit a certified copy of this assessment to the
Wright County Auditor to be extended on the property tax lists of the County. Such
assessments shall be paid over in the same manner as other City property taxes.
ADOPTED by the Otsego City Council this 22nd day of October, 2018.
ATTEST:
CITY OF OTSEGO
Jessica Stockamp, Mayor
Tami Lo f, City Clerk
MOTION made by Council Member Heidner and SECONDED by Council Member Tanner.
IN FAVOR: Stockamp, Heidner, Darkenwald, Tanner, Warehime
OPPOSED: None
EXHIBIT A
City of Otsego
Special Assessments - Amortization Schedule
Water Availability & Connection Charges
Payment
Year Assessed Principal Interest Total Balance
2018 93,603.50
-
-
-
93,603.50
2019 -
11,815.18
3,837.74
15,652.93
81,788.32
2020 -
12,299.60
3,353.32
15,652.93
69,488.71
2021 -
12,803.89
2,849.04
15,652.93
56,684.83
2022 -
13,328.85
2,324.08
15,652.93
43,355.98
2023 -
13,875.33
1,777.60
15,652.93
29,480.65
2024 -
14,444.22
1,208.71
15,652.93
15,036.43
2025 -
15,036.43
616.49
15,652.93
(0.00)
Totals
93,603.50
15,966.98
109,570.48
2018 151,466.00
-
-
-
151,466.00
2019 -
19,118.92
6,210.11
25,329.03
132,347.08
2020 -
19,902.80
5,426.23
25,329.03
112,444.27
2021 -
20,718.82
4,610.22
25,329.03
91,725.46
2022 -
21,568.29
3,760.74
25,329.03
70,157.17
2023 -
22,452.59
2,876.44
25,329.03
47,704.58
2024 -
23,373.14
1,955.89
25,329.03
24,331.44
2025 -
24,331.44
997.59
25,329.03
-
Totals
151,466.00
25,837.22
177,303.22
Note - Interest Rate is 4.10%
ESTIMATE ONLY