07/23/2002 Resolutions 2002-213
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RESOLUTION 2002-213
WHEREAS, on August 28, 2001, by Ordinance No. 8688, the City of Grand Island
created Sanitary Sewer District No. 501; and
WHEREAS, such district included land adjacent to the City, some ofwhich was and
continues to be, within an agricultural use zone and is used exclusively for agricultural use; and
WHEREAS, two property owners located within Sanitary Sewer District No. 501
have requested agricultural deferral of special assessments for Sanitary Sewer District No. 501 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. 501
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 pro rata basis of the
original assessment in the event a portion ofthe 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 oftermination of deferral until the same shall become delinquent. Delinquent
installments shall draw interest at fourteen percent (14%) per annum.
Adopted by the City Council ofthe City of Grand Island, Nebraska on July 23,2002.
QCA\\CU 9 ~~
RaNae Edwards, City Clerk
Approved as to Form T ~
July 19,2002 ... City ttorney
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