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01/08/2002 Resolutions 2002-9
I I I RES 0 L UTI 0 N 2002-9 WHEREAS, on June 13,2000, by Ordinance No. 8597, the City of Grand Island created Sanitary Sewer District No. 493; 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, three property owners located within Sanitary Sewer District No. 493 have requested agricultural deferral of special assessments for Sanitary Sewer District No. 493 due to the land being used exclusively for agricultural purposes; and 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 Sanitary Sewer District No. 493 upon the tracts of land described in Exhibit "A" attached hereto shall be deferred until terminated in accordance with Neb. Rev. Stat. 919-2430. 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. Adopted by the City Council of the City of Grand Island, Nebraska on January 8,2002. 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