HomeMy WebLinkAbout2007-157 CCRMember Kay Lasman introduced the following resolution and moved its
adoption:
RESOLUTION NO. 2007-157
RESOLUTION ESTABLISHING THE INTEREST RATE FOR 2008 SPECIAL
ASSESSMENTS
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
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 to the next one-half percent; and
WHEREAS, the most recent General Obligation bond sale, Series 2006A, resulted in a
net interest rate of 3.78 percent.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center, Minnesota, that the interest rate charged on special assessments levied in the year
2008 is hereby established at 6.0 percent.
December 10. 2007
Date
Mayor
I'
ATTEST: ~~f1~~2f/uIrâ–º~A.~
City Clerk
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, Kay Lasman, Mary 0 Connor, Dan Ryan, and Mark Yelich;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.