HomeMy WebLinkAboutResolution No. 145-21 - Assessment Interest Rate for Development Charges
RESOLUTION
Approving the Assessment Interest Rate for Development Charges.
WHEREAS, Resolution No. 335-03 sets the interest rate on non-Water Quality Protection
Program (WQPP) development charge assessments at 5%; and
WHEREAS, the Resolution requires an annual review of this rate on August 1 of each year.
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of Rochester
that the City does hereby adopt an interest rate on non-WQPP special assessments in the
amount of 3.5% for the period of August 1, 2021 - July 31, 2022.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS__________DAY OF______________, 2021.
___________________________________
PRESIDENT OF SAID COMMON COUNCIL
ATTEST: __________________________
CITY CLERK
APPROVED THIS_____DAY OF_____________________, 2021.
__________________________________
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)