85-7071R15
RESOLUTION N0. 7071
RESOLUTION AMENDING RESOLUTION N0. 7019
ADOPTING ASSESSMENT ON CITY PROJECT N0. 793,
1984 ALLEY PAVING, ESTABLISHING ANNUAL INTEREST RATE
WHEREAS, pursuant to all applicable law, the city council
adopted Resolution No. 7019 "Resolution Adopting Assessment on
City Project No. 793, 19.84 Alley Paving", and
WHEREAS, said Resolution No. 7019, Arovides that the
assessments shall bear interest at a rate to be determined by
the sale of bonds to finance the improvements, and
WHEREAS, the City must certify a stated annual. interest rate
for such assessments in specific terms so that the assessments
may be spread, and
WHEREAS, said annual interest rate must be certifed to
Hennepin County on or before October 10, 1985, and,
WHEREAS, the City now anticipates that interest rate for
bands issued to finance the improvements will be 9~.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Richfield, Minnesota that Resolution No. 7019 be amended
to state that all assessments shall bear an annual interest rate
of 9~, the anticipated average annual interest rate on bonds to
be issued to finance the improvements.
Passed by the City Council of the. City of Richfield,