HomeMy Public PortalAboutResolutions-2022-058CITY 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 included setting 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. 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 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 members were 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.
ATTEST: . .'
City of Tiffin
Steven L. Berner, Mayor
Abigail Hora/City Clerk'