1952-74r
R~6~L~TION N0. ?1~
RESOLIITIQQ REGULATING CIE INTEREST CHARGES
O1V CERTAIN SPECIAL ASSESSMEt1TTS
BE I T RESaLVEL by the Village Council of the Village of Richfield
as follows
1. That it is hereto ford and determined that at the meeting of the
V3.11age Council on October 11, 1950 said Council adopted resolutions relat-
ing to special assessments for Storm Sewer Districts C-1, Q, E, D-1 and A:
which established interest charges on the unpaid balanee on special assess-
ments for said districts at 6~ per acnum; but that the assessment rolls for
said districts as actually calculated and submitted to the County Auditor
provided for interest charges on said assessments at the rate, of 5~ per annum.
2. That it is further determined that it is desirable to make said
resolutions -and assessment rolls consistent for record purposes, -and that the
proceeds from said special assessments have been and w3.11 be adequate for
debt service on obl3.gations issued to construct improvements in said districts
with an interest charge of 5~ per annwn.
3. That the interest rate on the unpaid principal balance on each of the
said special assessments is hereby established at 5~ per a nnum, and the said
assessment rolls as submitted to the county auditor and all acts taken pur-
suant thereto and iri reliance thereon are hereby adopted, ratified and eon-
firmed to the same extent as though said resolutions had established said in-
teres t charge at ~~ per annum.
Passed by the Village Council
ATTEST
roy ~ of n
the 10th day of Nov®' er, 195
ed C. Re er
MA OR