01/23/2007 Resolutions 2007-22RESOLUTION 2007-22
WHEREAS, on November 22, 2005, by Ordinance No. 9016, the City of Grand
Island created Street Improvement District No. 1258; and
WHEREAS, such district included land adjacent to the City, some of which was and
continues to be, within an agricultural use zone and is used exclusively for agricultural use; and
WHEREAS, on January 23, 2007, by Ordinance No. 9102, the City of Grand Island
assessed and levied a special tax for the construction of Street Improvement District No. 1258
against the tracts of land benefiting from such street improvement; and
WHEREAS, such real estate, owned by T & E Cattle Company, continues to be used
exclusively for agricultural uses; and
WHEREAS, T & E Cattle Company has requested that such deferral from special
assessments be continued as long as the property is used exclusively for agricultural purposes as
provided by law.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that:
1. The special assessments to be levied under Street Improvement District No.
1258 upon the tract of land described as Part of the Northeast Quarter of the Southwest
Quarter (NE '/4 SW '/4) of Section Thirteen (13), Township Eleven (ll), Range Ten (10),
West of the Sixth P.M., in the City of Grand Island, Hall County, Nebraska, be deferred until
terminated in accordance with Neb. Rev. Stat. § 19-2430.
2. That during said deferral, no principal payments shall become due and no
interest shall accrue upon the assessment.
3. That the special assessment shall be divisible upon a front foot basis in the
event a portion of the land shall no longer be eligible for deferral.
4. That upon termination of deferral, the principal amount of the special
assessment shall be amortized over a term of ten years from that date. The first such
installment shall become delinquent in fifty days after termination of deferral. Each
installment except the first shall draw interest at seven percent (7%) per annum from and
after the date of termination of deferral until the same shall become delinquent. Delinquent
installments shall draw interest at fourteen percent (14%) per annum.
Approved as to Form •_
January 22, 2007 • City Attorney
Adopted by the City Council of the City of Grand Island, Nebraska on January 23, 2007.
Margare Hornady, Mayor
Attest:
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RaNae Edwards, City Clerk
Approved as to Form ~~
January 22, 2007 • City Attorney
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