06/10/2003 Resolutions 2003-163
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RESOLUTION 2003-163
WHEREAS, on March 27,2001, by Ordinance No. 8663, the City of Grand Island
created Water Main District No. 437; and
WHEREAS, such district includes 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, Louis E. Graham and Virginia B. Graham, husband and wife, own
property within Water Main District No. 437 and have requested agricultural deferral of special
assessments for such district due to the land being used exclusively for agricultural purposes.
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 Water Main District No. 437 upon the following
tract of land in the City of Grand Island, Hall County, Nebraska, shall be deferred until
terminated in accordance with Neb. Rev. Stat. SI9-2430:
Beginning at a point 11' west and 33' south of the NE comer of the NWl/4, NW1I4 of
Section 5; thence west 33' south of and parallel to the north line of Section 5; to the east
ROW line of Juergen Road; thence south 7'; thence southwest along the easterly ROW line of
Juergen Road a distance of 56.57'; thence south on the east ROW line of Juergen Road to a
point of curvature; thence continuing southwesterly on a curve to the right, said line being the
easterly ROW line of Juergen Road, to the north line of Lot 21, Platte Valley Industrial Park
Third Subdivision; thence east on the north line of Lots 21 and 19 of Platte Valley Industrial
Park Third Subdivision to a point 11' west ofthe east line ofthe NW1I4, NW1I4 of Section
5, TlON, R9W; thence north on a line 11' west of and parallel to the east line of said NW1I4,
NW1I4 of Section 5 to the point of beginning.
2.
That during said deferral, no principal payments shall become due and no interest shall
accrue upon the assessments.
3.
That the special assessments shall be divisible upon a pro rata basis of the original
assessment 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 assessments 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
June 5, 2003
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Adopted by the City Council of the City of Grand Island, Nebraska, June 10,2003.
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Q~o tQw~,
RaN ae Edwards, City Clerk