RES 16-24CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO. 2016-24
RESOLUTION ADOPTING ASSESSMENT- SANITARY SEWER AND WATER
CHARGES- LOT 1, BLOCK 1 GREAT CENTRE OF OTSEGO FOURTH ADDITION
WHEREAS, the City of Otsego is the Owner of that property described as LOT 1,
BLOCK 1, GREAT RIVER CENTRE OF OTSEGO FOURTH ADDITION; and
WHEREAS, the City has entered into a Purchase Agreement to sell the property
set forth above, and Purchaser has requested and City has agreed to assess City
sanitary sewer availability charges, City sanitary connection fees, City water availability
charges and City water connection fees for the building to be constructed upon the
property; and
WHEREAS, as Owner the City of Otsego hereby petitions for and consents to
the assessment set forth herein and waives any and all hearings, irregularities in
procedure, and any and all rights of appeal under Minnesota Statute 429.081 or any
other statute or case law; and
WHEREAS, the City of Otsego acknowledges and agrees that the property is
benefited in at least the amount of the assessment.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF OTSEGO, WRIGHT COUNTY, MINNESOTA:
1. Such proposed assessment, a copy of which is attached hereto and made a part
hereof, is hereby accepted and shall constitute the special assessment against the
lands named therein, and each tract of land therein included in hereby found to be
benefited by the proposed improvement in the amount of the assessment levied against
it.
2. Such assessment against LOT 1, BLOCK 1 GREAT RIVER CENTRE OF OTSEGO
FOURTH ADDITION in the principal amount of $173,631.60 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, 2017 shall bear
interest at the rate of 3.25% percent per annum from the date of the adoption of this
assessment resolution. To the first installment shall be added interest on the entire
assessment from the date of this resolution until December 31, 2016. To each
subsequent installment when due shall be added interest for one year on all unpaid
installments.
3. 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 Otsego City Clerk, 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 Otsego
City Clerk 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 Otsego City Clerk shall forthwith transmit a certified duplicate of this
assessment to the county auditor to be extended on the property tax lists of the county.
Such assessments shall be collected and paid over in the same manner as other
municipal taxes.
ADOPTED by the Otsego City Council this 22nd day of February, 2016.
Motioned By: Darkenwald
Seconded By: Heidner
All in Favor: Darkenwald, Heidner, Schroeder
Those Opposed: None
Vern Heidner, Acting Mayor
Tami Loff, City Clerk
City of Otsego
Special Assessments - Amortization Schedule
Assessment - Utility Availability & Connection Charges
Great River Centre - Fourth Addition
V Lot 1 Block 1
Interst Payment Principal
Year Assessed Accrual Principal Interest Total Balance
2016 173,631.60 4,839.09
-
-
-
173,631.60
2017 - -
24,804.51
10,482.12
35,286.63
148,827.09
2018 - -
24,804.51
4,836.88
29,641.39
124,022.58
2019 - -
24,804.51
4,030.73
28,835.24
99,218.07
2020 - -
24,804.51
3,224.59
28,029.10
74,413.56
2021 - -
24,804.51
2,418.44
27,222.95
49,609.05
2022 - -
24,804.51
1,612.29
26,416.80
24,804.54
2023 - -
24,804.54
806.15
25,610.69
-
Totals 173,631.60 27,411.20 201,042.80