Resolutions-2022-058

CITY OF TIFFIN RESOLUTION 2022- 058 A RESOLUTION AMENDING RESOLUTION NO. 2022- 041 AND ADJUSTING THE INTEREST RATE FOR THE FINAL ASSESSMENT FOR THE 2017 ORIGINAL TOWN URBANIZATION PROJECT Whereas, the Tiffin City Council previously approved Resolution 2022- 041 at the April 19, 2022, council meeting; and, Whereas, the adoption of that resolution established the final assessment schedule for the 2017 Original Town Urbanization Project which includedsetting an interest rate on the unpaid assessments for property owners who choose to pay the assessment by installments on their property taxes; and, Whereas, the City Council would like to revisit the interest rate that was established with Resolution No. 2022- 041, Now, therefore be it resolved, that the City Council of the City of Tiffin, Iowa is hereby adjusting and re- establishing the interest rate for the assessments for the 2017 Original Town Urbanization Project at 1°./ 0 per annum, computed from March 16, 2021 ( that being the date of acceptance of the work)to December 1, 2022. Thereafter, all unpaid installments shall bear interest at the rate of 2. 9% per annum, computed from the December 1, immediately preceding the due dates of the respective installments to the December 1, next following the due dates of the respective installments. On this 21st day of June, 2022, at a regular meeting of Tiffin City Council, Tiffin, Iowa, Councilperson Havens introduced RESOLUTION NO. 058, 2022- A RESOLUTION AMENDING RESOLUTION NO. 2022- 041 AND ADJUSTING THE INTEREST RATE FOR THE FINAL ASSESSMENT FOR THE 2017 ORIGINAL TOWN URBANIZATION PROJECT and made a motion for approval. The motion was seconded by Councilperson Orris. Ayes; Havens, Schnedler, Olney, Limkemann, Orris. Nays: None. Absent: None. Whereupon five Council memberswere present and voted approval and Mayor Berner declared that the RESOLUTION NO. 2022- 058, A RESOLUTION AMENDING RESOLUTION NO. 2022- 041 AND ADJUSTING THE INTEREST RATE FOR THE FINAL ASSESSMENT FOR THE 2017 ORIGINAL TOWN URBANIZATION PROJECT to be adopted and signified his approval of the same by affixing his signature thereto. Passed by the City Council on the 21st day of June, 2022. City of Tiffin Steven L. Berner, Mayor ATTEST: . .' Abigail City Clerk' Hora/