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Res 2000-114 RESOLUTION NO. 114- 2000 RESOLUTION ABATING THE ASSESSMENT AND ADOPTING A NEW ASSESSMENT FOR 262 57TH AVENUE NORTHEAST IN RELATION TO THE 57TH AVENUE STREET IMPROVEMENT PROJECT NO. ST. 1997-4 WHEREAS, on September 13, 1999 the City Council adopted an assessment roll for the 57th Avenue Street Improvement Project No. St 1997-4; and WHEREAS, the assessment roll included the property at 262 57th Avenue Northeast with an assessment of$11,866.80; and WHEREAS, on September 22, 1999,the property owners of 262 57th Avenue NE,David and Norma Rust, filed an appeal of their special assessment in the Tenth District Court; and WHEREAS, on July 17 _, 2000 a settlement was reached between the Rusts and the City of Fridley reducing the assessment to $4,800.00; and WHEREAS, the Rusts have paid the 2000 property taxes including the special assessment amount levied for 2000 for the 57t Avenue Improvement project. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF FRIDLEY, MINNESOTA: That the assessment of$11,886.80 on the property at 262 57th Avenue Northeast, PIN No. 23-30-24-23-0022,be abated and that an assessment of$4,800.00 be levied against the property. Such assessment shall be payable in equal annual installments extending over a period of 10 years and shall bear interest at a rate of 6 t/2 percent per annum from the date of the adoption of the original assessment(September 13, 1999). Such assessment shall be reduced by the amount the owners have already paid with their 2000 property taxes. PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 18TH DAY OF DECEMBER 2000. N CYO ,3'J E .ON-MAYOR ATTEST: / DEBRA A. SKOGE - CIT/CLERK