1984-039 - Laserfiche WebLink

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issuance of revenue bonds by the County (hereinafter called "Project"). The Project will be constructed in the following unin- corporated area of the County: Water line from Oslo Road to 43rd Avenue north to 8th or 12th Street, then west. to Kings High- way, then north to St. Road 60, water tower to be constructed along route of water line. The Board has examined the assessment roll and has determined that a portion of the entire cost of the Project in the amount of $2,050,000 shall be assessed against the properties specially benefited thereby. The Board has approved the preliminary assessment roll as required by law. The description of each pro- perty to be assessed and the amount to be assessed to each parcel of property may be ascertained at the office of the Clerk of the Board. The special assessments to be levied against the proper- ties specially benefited from the Project may be paid in cash in not exceeding 10 equal yearly installments with interest at a rate not to exceed 1% above the interest rate on the bonds of notes, as the case may be, to be issued to finance the cost of the Project. If the special assessments are not paid when due, there shall be added a penalty at the rate of 1% per month until paid; provided, however, that such assessments may be prepaid at any time within 30 days after the Project is completed and a resolution accepting the same has been adopted by the Board, but such prepaid assessments shall bear interest at the rate borne by the bonds or the notes, as the case may be, described above, and shall include, if deemed necessary by the Board, a prepayment fee not to exceed the applicable redemption premium, if any, for such notes or bonds, as the case may be, if they were to be redeemed on the next available redemption date. The special assessments shall be levied against such benefited pro- perties on an available tap basis to the properties receiving benefit by virtue of the availability of potable water. Any special. assess- -3-