HomeMy WebLinkAboutRESOLUTION 1976-106~---- _ ~ _ __ T ~ -, -.- _ _ _ ___ _ _ _ _ _ _ _ ~ .. - _ T- ~ ~ -- _ ~ .~ ~ .~..„~_
~~
u
I
~~
CITY P1F KF.~IAT
RESOLUTION N(l. 76-106
A RESOLUTION OF THE COUNCIL OF THF. CITY OF KENAI RF.CII~ING
RESOLUTION 76-83 AND SUBSTITUTING THERFFORF. THE PROVISIONS
OF THIS RESOLUTION CONFIRMING THE RF.ASSESSMRNT ROLL AS CORRRCTEn
FOR WATER IMPROVEMENT DISTRICT NO. 8.
WHEREAS, the Council by Resolution 1•TC. 74-4 has establisr.ed Water
Improvemen* nistrict No. 8, and
WHEREAS, the Council has recognized that within said improvement district
there may be assessments which exceed the limit of 25 a of the fair cash
market value itecluding the water or sewer improvement as set out by
Section 7-3 of the Charter of the City of Kenai, and
WHEREAS, the Council, by Resolution No. 76-64 has directed that the said
improvement district be reassessed for the purpose of complying with geetion
-3 of the City Charter.
NOW, THEREFORE BE IT RESOLVED, by the Council of the City of Kenai,
Alaska, as follows:
Section 1: Resolution 76-83 is hereby recinded .
Section 2: The Council hereby finds that:
a. .A preliminary reassessment roll has been compiled and is on
file with the City Clerk.
b . The reassessment roll has been computed in accordance with the
formula set forth in Revolution No. 76-64.
c . The notice requirement of the Code of the Ciry of Kenai with respect
to reassessments have been met.
Section 3: There is hereby confirmed the reassessment roll which has
been corrected, pursuant to public hearing at a meeting held December 1,
1876 and as such meeting may have been adjourned for additional action
or work upon assessment roll corrections .
Section 4: There is hereby re-levied against the property benefitted
the costs levied by Section 4 of Resolution *TO. 74-4 as Rueh cogtg have been
adjusted for each individual parcel in accordance with the 25? limitation of
Section ?-3 of the City Charter and the assessment as set out in the reassess-
ment roll, as confirmed hereinabove is hereby the amount levied a~sinst
each individual parcel.
Section 5: The principal amounts of assessments and the division between
regular and deferred assessments shall be as follows:
a. The principal amount of an assessment and the division between regular
and deferred assessments shall. remain unchanged if no adjustment
has been made by this resolution.
b. If an assessment has been reduced, any reduction shall be first
applied to reduce the principal amount of the deferred assessment on
the parcel, if any. if there is no deferred assessment, or if the amount
reduced is more than the deferred assessment, the principal portion of
the regular assessment shall be reduced accordingly.
Section 6: A revised payment schedule for P.ach regular assessment shall
be set up as follows:
a. There shall be ten equal annual installments which installments include
both principal and interest .
b . These installments shall be based on the principal amount of the regular
assessment with interest at the rate of 8$ per annum, calculated from March
1, 1974.
c. The first payment shall be due b7arch 1, 1975 and shall be delinquent
after April 1, 1975. The nine successive installment payments shall be
due March 1 of each of 1976, 197?, 1978, 1979, 1980, 1981, 1982, 1983 and
1984 and shall be delinquent after April l of each of those years .
d. Payments may be made in advance of the due dates with interest on the
outstanding principal portion, being calculated only to the date of payment.
If the entire principal amount is paid prior to April 1, 1974, no interest charge
is incurred.
e. Delinquent payments shall be chargc!d interest at the rate of 8~ on the
principal portion of the payment, such interest being calculated from the
March 1 due date for that payment .
t~
L~
1
;f
.,
i
i
....
. i .
f ~-
f. A penalty of 10$ of the annual installment (principal and interest) shall
be charged on delinquent payments except that no penalty provided for herein
shall be charged on those payments due April 1, 1975 and April 1, 1978
provided such payments are made on or before April 1, 1977. The 10~
penalty shall be assessed it such payments are not made by that date.
Section 7: Payments made prior to the date hereof, pursuant to the installment
schedules established under authority of Resolution 74-4 shall he reapplied
ae follows:
a. The total amount of money paid un each separate payment date shall he
reapplied to the principal, interest and penalty Pxactly as if the revised
payment schedule had been in effect at the time the payment was made ,
b. In the event the amount paid on a certain date exceeds the amount flue on
that date under the revised schedule, the overpayment shall be treated as
further reduction of the principal amount and the payment schedule shall
be revised to reflect the reduction .
e. When there are ~~o tutors annual installments against which to apply any
amount over-paid on the parcel as of the date of last payment, a refund of
that amount shall be made to the current owner of the parcel as reflected
in the Kenai Peninsula Borough Tax AssesRment rolls.
Section 8: Any deferred assessments remaining on parcels after reductfons
herein shall be handled as provided for in ordinance 314-?6 with installments
schedule set up over the time and in the manner provided for herein for
regular assessments.
PASSED by the Council of the City of Kenai, Alaska, this 22 day of Aecember, 1976.
ATTEST:
~1
S C. Peter, City Clerk