HomeMy WebLinkAbout2021-136 CCR Member Lawrence-Anderson introduced the following resolution and moved its
adoption:
RESOLUTION NO. 2021-136
RESOLUTION ESTABLISHING 1NTEREST RATE FOR 2022 SPECIAL
ASSESSMENTS
WHEREAS, the City Council levies special assessments for certain neighborhood
street and utility proj ects, delinquent utility bills, and other services provided to property owners
that go unpaid; and
WHEREAS, amounts outstanding are certified to Hennepin County for collection
with property taxes; and
WHEREAS, by City Council policy, interest is to be charged on outstanding
amounts certified to Hennepin County for collection with property taxes; and
WHEREAS, the interest rate to be charged is two percent over the net interest rate
for the most recent City General Obligation bond sale rounded up to the next one-half percent;
and
WHEREAS, the most recent General Obligation Improvement Bond sale resulted
in a net interest rate of 1.08 percent.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center, Minnesota, that the interest rate charged on outstanding special assessments for
the year 2022 is hereby established at 3.5 percent.
,�
,,,,..- -—' --�
November 8, 2021 ��
Date Mayor
�
ATTEST: �1��'� I
City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member
Elliott
and upon vote being taken thereon, the following voted in favor thereof:
Butler, Elliott, Graves, Lawrence-Anderson, Ryan
and the following voted against the same: None.
whereupon said resolution was declared duly passed and adopted.