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CITY OF HASTINGS VIjI-A-1 DAKOTA COUNTY, MINNESOTA Resolution No. RESOLUTION ADOPTING THE ASSESSMENT FOR THE 2006-I 3'~ STREET AREA STREET AND UTILITY INIPROVENIENTS WHEREAS, pursuant to proper notice duly given as required by law, the City Council of the City of Hastings has met, heard, and passes upon all objections to the proposed assessments for the improvements of 2006-1 3`d Street Area - 3`d Street west of Vermillion Street (TH 61), Eddy Street between 2°d Street and 5th Street, Ashland and Prairie Streets between 2°d Street and 3`d Street, and Forest, Maple and State Streets between 3`d Street and 4th Street These improvements included street, water, sewer, and storm sewer reconstruction, sidewalk construction and reconstruction, and street lighting_ NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF HASTINGS AS FOLLOWS: 1. The proposed 2006-1 3`a Street Area Improvement Program assessments, a copy of which is filed with the Hastings Engineering Department, are hereby accepted and shall constitute the special assessment against the lands named therein, and each tract of land therein included is hereby found to be benefited by the constructed improvement in the amount of the assessment levied against it. 2. Such assessment shall be payable in equal annual installments extending over a period often (10) years, the first of the installments to be payable on or before the first Monday in January 2008, and shall bear interest at the rate of 5.50% per annum from December 20, 2006. To the first installment shall be added interest on the entire assessment from December 5, 2007 until December 31, 2008. To each subsequent installment, when due, shall be added interest for one year on all unpaid installments. 3. The owner of any property so assessed may, at any time prior to certification of :the assessment to the County Auditor, pay the whole or part of the assessment on such property with interest accrued to the date of the payment to the City Clerk, except that no interest or Dakota County assessment certification fee shall be charged if the entire assessment is paid within 30 days from the adoption of this resolution; and he may, at any time thereafter, pay to the County Treasurer the entire amount of the assessment remaining unpaid with interest accrued to December 31 of the year in which such payment is made. Such payment must be made before December 30, or interest will be charged through December 31 of the next succeeding year. 4