05/28/2013 Resolutions 2013-157 RESOLUTION 2013-157
WHEREAS, on April 23, 2013, by Ordinance No. 9247, the City of Grand Island
created Street Improvement District No. 1261; 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, such land, owned by Little B's Corporation, continues to be used
exclusively for agricultural uses; and
WHEREAS, Little B's Corporation 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. 1261
upon the tract of land described as Part of the South Half of the Northwest Quarter(S
'/2 NW '4)of Section Twenty Four(24),Township Eleven(11),Range Ten(10)West
of the 6th 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 deferrals, 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 (10) years from that date. The first such
installment shall become delinquent in fifty(50) 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 tennination of deferral until the same shall become
delinquent. Delinquent installments shall draw interest at fourteen percent(14%)per
annum.
Adopted by the City Council of the City of Grand'Island, ebrask'., May ; 8, 20
Jay 'avric�-k, Mayor
Attest:
On)Cc)
(19 -
RaNae Edwards, City Clerk
Approved as to Form a -,r
May 28,2013 a CI lIgIF orney