HomeMy WebLinkAbout2011-007 CCRits adoption:
Member Kay Lasman introduced the following resolution and moved
RESOLUTION NO. 2011 -07
RESOLUTION ESTABLISHING THE INTEREST RATE FOR 2011 SPECIAL
ASSESSMENTS
WHEREAS, the City Council levies special assessments for certain neighborhood
street and utility 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
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 3.87 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 2011 is hereby established at 6.0 percent.
ATTEST:
January 10, 2011
Date
cil4A-Ak
City Clerk
Mayor
The motion for the adoption of the foregoing resolution was duly seconded by member
Dan Ryan
and upon vote being taken thereon, the following voted in favor thereof:
Tim Willson, Carol Kleven, Kay Lasman, Tim Roche, and Dan Ryan;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.