HomeMy WebLinkAbout2017-168 CCRMember Dan Ryan introduced the following
resolution and moved its adoption:
RESOLUTION NO.2017-168
RESOLUTION ESTABLISHING INTEREST RATE FOR 2018 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 Improvement Bond sale resulted
in a net interest rate of 1.96 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 2018 is hereby established at 4.0 percent.
November 13, 2017
Date Mayor
ATTEST:
City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member
Marquita Butler
and upon vote being taken thereon, the following voted in favor thereof:
Tim Willson, Marquita Butler, April Graves, Dan Ryan
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.