HomeMy WebLinkAbout2009-013 CCR1
Member Mark Yelich introduced the following resolution and moved its
adoption:
RESOLUTION NO. 2009-13
RESOLUTION ESTABLISHING THE INTEREST RATE ON SPECIAL
ASSESSMENTS FOR 2009
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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 2009 is hereby established at 6.0 percent.
Januarv 12, 2009
Date
Mayor
ATTEST: 4City 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, Tim Roche, Dan Ryan, and Mark Yelich;
and the following voted against the same: none ;
whereupon said resolution was declared duly passed and adopted.