HomeMy WebLinkAbout2003-176 CCRMember Kay Lasman introduced the following resolution and moved its
adoption:
RESOLUTION NO. 2003-176
RESOLUTION SETTING THE INTEREST RATE ON SPECIAL ASSESSMENTS
FOR 2004
WHEREAS, the City Council levies special assessments for neighborhood street
projects, delinquent utility bills and other services provided to property owners that go unpaid; and
WHEREAS, amounts outstanding are certified to Hennepin County for collection
1
with property taxes; and
WHEREAS, by City 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 bond sale resulted in a net interest
rate of 3.46 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
2004 is 5.5 percent.
November 10, 2003
Date
ATTEST: ~4411a 41_mll
City Clerk
Mayor
The motion for the adoption of the foregoing resolution was duly seconded by member
Bob Peppe
and upon vote being taken thereon, the following voted in favor thereof:
Myrna Kragness, Kay Lasman, Diane Niesen, and Bob Peppe;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.