Resolution 18-021(A) Confirming the Assessment Roll and Payment Provisions for Frisbee Court Special Assessment District

CITY OF HOMER

HOMER, ALASKA

City Clerk/Public Works Director

RESOLUTION 18-021(A)

A RESOLUTION OF THE HOMER CITY COUNCIL CONFIRMING THE ASSESSMENT ROLL, ESTABLISHING DATES FOR PAYMENT OF SPECIAL ASSESSMENTS AND ESTABLISHING DELINQUENCY, PENALTY, AND INTEREST PROVISIONS FOR THE FRISBEE COURT ROAD PAVING SPECIAL ASSESSMENT DISTRICT.

WHEREAS, In compliance with Homer City Code Chapter 17, Improvement Districts, the Homer City Council created a Frisbee Court Road Paving Special Assessment District on February 27, 2017 via Resolution 17-017, with the benefitted property owners assuming 25% of the cost of the improvements (shared equally); and

WHEREAS, Then Notice of Public Hearing and Notice of Right to Object dated January 3, 2017 was mailed to property owners in the district advising that written objections must be filed with the City Clerk no later than February 6, 2017; and

A public hearing was held on February 13, 2017 to hear objections to the formation of such district; and

WHEREAS, The Frisbee Court Road Reconstruction and Paving Special Assessment District improvements were completed and accepted by Public Works for City maintenance; and

WHEREAS, The final assessment roll as presented by the City Clerk and reviewed and corrected where necessary and attached hereto as Attachment A, is hereby confirmed as the official assessment roll for the Frisbee Court Road Reconstruction and Paving Special Assessment District and the Mayor and Clerk shall be directed to sign same.

NOW, THEREFORE, BE IT RESOLVED that on or before 5:00 p.m. on July 1, 2018, all assessments in the Frisbee Court Road Paving Special Assessment District shall become due and payable in full. All assessments not paid in full by this date shall be considered delinquent and in default and shall have added a penalty of ten percent (10%) which penalty and principal amount of the assessment shall both draw interest at a rate of four and one half percent (4.5%) per annum for the road assessment until paid. Should default occur, the City of Homer will institute a civil action for a foreclosure of the assessment lien. Foreclosure shall be against all property on which assessments are in default. All costs including collection and legal fees resulting from such action, shall be added and incorporated into the assessed amount due plus interest and penalties and shall be reimbursed from the proceeds of foreclosure sale of the assessed real property.

BE IT FURTHER RESOLVED that an optional ten (10) year payment plan for road assessments is offered whereby the assessments may be paid in equal yearly installments plus interest of four and one half percent (4.5%) per annum on the unpaid balance of the assessment. The first such installment shall be due and payable without interest on or before 5:00 p.m. July 1, 2018 and each installment thereafter shall be due on or before July 1, of each year, plus interest on the unpaid balance of the assessment. If any annual installment payment is not received when due, the entire outstanding principal amount of the assessment shall be in default and shall be immediately due and payable. The entire outstanding assessment principal (including the annual installment) shall have added a penalty of ten percent (10%) on the outstanding principal. The principal and penalty shall draw interest at the rate of ten and one half percent (10.5%) per annum until paid. Should default occur, the City will institute civil action for foreclosure of the assessment lien. Foreclosure shall be against all property on which assessments are in default. All costs including collection and legal fees resulting from such action shall be added and incorporated into the assessed amount due plus interest and penalties, and shall be reimbursed from the proceeds of foreclosure sale of the assessed real property.
 

PASSED AND ADOPTED by the Homer City Council on this 26th day of February, 2018.

                                                                                                CITY OF HOMER

                                                                                               _________________________
                                                                                                BRYAN ZAK, MAYOR
ATTEST:

______________________________
MELISSA JACOBSEN, MMC, CITY CLERK

Fiscal Note:  Total design and construction project costs are $183,794.03; 25% of this cost (plus a 5% City administration fee) is the responsibility of the property owners ($45,948.51). Parcels are assessed for road paving at $4,177.14 (11 parcels equally assessed).