RES 16-88CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2016-88
ADOPTING ASSESSMENT ROLL FOR UTILITY CONNECTION CHARGES
ON LOT 2, BLOCK I - OTSEGO WATERFRONT EAST 5TH ADDITION
WHEREAS, WFC III, LLC is the owner of parcel 118-282-001020 described as Lot 2, Block 1
of Otsego Waterfront East 5th Addition; and
WHEREAS, the owner petitioned the City of Otsego for the assessment of water utility
connection charges in the amount of $18,339.60 plus accrued interest of $999.00; and
WHEREAS, the owner petitioned the City of Otsego for the assessment of sanitary sewer utility
connection charges in the amount of $78,833.60 plus accrued interest of $4,294.27; and
WHEREAS, the City of Otsego approved an agreement where the utility connection charges
would be assessed against the respective parcel on December 14, 2015.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
OTSEGO, MINNESOTA:
1. Such assessment roll, attached hereto as Exhibit A, is 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 have received and not paid for City utility
services provided.
2. The owner of any property so assessed may at any time prior to the certification of the
assessments to the Wright County Auditor pay the entire assessment to the City. Such
payments must be made by the close of business on November 15, 2016 or interest will
be charged through December 31 of the succeeding year.
3. ' Such assessment shall be payable with property taxes levied in 2016 for collection in
2017, in seven annual installments with an interest rate of 3.25% per annum.
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 24th day of October, 2016.
MOTION made by Council Member Heidner
Schroeder
CITY OF OTSEGO
ATTEST:
T i Loff, City Clerk
and SECONDED by Council Member
IN FAVOR: Stockamp, Heidner, Darkenwald, Warehime, Schroeder
OPPOSED: None
City of Otsego 1
Special Assessments
a
Amortization Schedule
9000 Quantrelle Ave NE
MY
Water Connection Charges
Interest Payment
Year Assessed Accrual Principal Interest Total Balance
2015 18,339.60 390.28
-
-
2,514.02
18,729.88
2016 - 608.72
-
-
-
19,338.60
2017 -
2,762.66
628.50
3,391.16
16,575.94
2018
2,762.66
538.72
3,301.38
13,813.28
2019
2,762.66
448.93
3,211.59
11,050.62
2020
2,762.66
359.15
3,121.81
8,287.96
2021 -
2,762.66
269.36
3,032.02
5,525.30
2022 -
2,762.66
179,57
2,942.23
2,762.64
2023
2,762.64
89.79
2,852.43
-
2015
97,173.20 2,067.93 -
19,338.60
2,514.02
21,852.62
2016
- 3,225.34 -
-
-
102,466.47
2017
- 14,638.07
Sanitary Sewer Connection Charges
17,968.23
87,828.40
2018
- 14,638.07
2,854.42
17,492.49
Interest
2019
Payment
2,378.69
17,016.76
Year Assessed
Accrual
Principal
Interest
Total
Balance
2015 78,833.60
1,677.64
1,427.21
16,065.28
29,276.12
80,511.24
2016 -
2,616.63
-
-
-
83,127.87
2017
-
11,875.41
2,701.66
14,577.07
71,252.46
2018
115,787.10
11,875.41
2,315.70
14,191.11
59,377.05
2019
11,875.41
1,929.75
13,805.16
47,501.64
2020
11,875.41
1,543.80
13,419.21
35,626.23
2021
11,875.41
1,157.85
13,033.26
23,750.82
2022
-
11,875.41
771.90
12,647.31
11,875.41
2023
-
11,875.41
385.95
12,261.36
-
83,127.87
10,806.61
93,934, 48
Total
Interest
Payment
Year Assessed
Accrual
Principal
Interest
Total
Balance
2015
97,173.20 2,067.93 -
99,241.13
2016
- 3,225.34 -
-
-
102,466.47
2017
- 14,638.07
3,330.16
17,968.23
87,828.40
2018
- 14,638.07
2,854.42
17,492.49
73,190.33
2019
- 14,638.07
2,378.69
17,016.76
58,552.26
2020
- 14,638.07
1,902.95
16,541.02
43,914.19
2021
- 14,638.07
1,427.21
16,065.28
29,276.12
2022
- 14,638.07
951.47
15,589.54
14,638.05
2023
- 14,638.05
475.73
15,113.78
-
102,466.47
13, 320.63
115,787.10
Resolution Date 5/6/2015
Year End 12/31/2015
Interest Days 239