HomeMy WebLinkAboutRESOLUTION 1987-34Suggested by: Ad~inistration
CITY OF K~NAI
RIBOhUTION NO. 87-34
A RBSOLUTION OF THE COUNCIL OF THE CITY OF KENAI, ALASKA,
CONFIRMING TH~ ASSESSMENT ROLL ON THE INLET NOODS DISTRICT AND
FIXING PAYMENT.
WHEREAS, a public hearing has been held on the assessment roll
EOF the Inlet Woods Special Assessment District; and,
WHEREAS, Council Einds that the assessment roll is proper.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
KENAI, ALASKA, that:
Se_c_t~.~ 1: The assessment roll attached to this Resolution
is conEirmed by the Council.
Section 2: Assessments as identiEied on the assessment roll
shall-~e--levied against the properties in the Inlet Woods
Assessment District, and are to be used to pay principal and
interest on bonds sold to finance the project.
~ection 3: Payments shall be fixed over a twenty-year
period, with annual payments due beginning June 1, 1988.
Payments shall be delinquent if not received before July I oE
each year. Annual payments shall be in equal installments,
including 10.75% annual interest. Delinquent installments will
be charged a penalty of ten percent (10%) on the entire
installment, along with additional interest accruing at the rate
oE 10.75% per year on the principal portion of the installment.
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 3rd day
o~ June, 1987.
ATTEST
A~pp~t Whelan, City Clerk
oved by Finance: ¢~....
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