Title
Ratifying the assessment for installation of a fire protection system, as requested by Linda Sackreiter, Congregational President of Grace English Evangelical Lutheran Church at 1730 Old Hudson Road (File No. FP2024-01, Assessment No. 247100).
Body
WHEREAS, the Saint Paul City Council in Council File RES 24-995 accepted the Report of Completion for the assessment of benefits, cost and expenses for installation of a fire protection system, as requested by Linda Sackreiter, Congregational President of Grace English Evangelical Lutheran Church at 1730 Old Hudson Road; and
WHEREAS, the City Council held a public hearing on August 14, 2024 to consider ratification of the assessment roll; and
WHEREAS, the City Council considered and found satisfactory the assessment of benefits, costs and expenses for the construction work; and
WHEREAS, the assessment amount for each property will be payable in annual installments for a term of 20 years, with the first installment payable with property taxes in 2025; and
WHEREAS, the assessment will bear an interest rate of 5.65 percent per annum from the date of the adoption of this resolution; and
WHEREAS, the first annual installment for each property will include a portion of the assessment principal, plus interest on the ratified assessment amount from the date of this resolution until December 31, 2025. For every annual installment afterwards, interest will be calculated on the remaining assessment balance; now, therefore, be it
RESOLVED, that the said assessment is hereby in all respects ratified.