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Mapleton, MN Code of Ordinance
CITY OF MAPLETON, MINNESOTA CODE OF ORDINANCES
CITY OFFICIALS OF MAPLETON, MINNESOTA
ADOPTING ORDINANCE
TITLE I: GENERAL PROVISIONS
TITLE III: ADMINISTRATION
TITLE V: PUBLIC WORKS
TITLE VII: TRAFFIC CODE
TITLE IX: GENERAL REGULATIONS
TITLE XI: BUSINESS REGULATIONS
TITLE XIII: GENERAL OFFENSES
TITLE XV: LAND USAGE
TABLE OF SPECIAL ORDINANCES
PARALLEL REFERENCES
§ 150.10 SPECIAL ASSESSMENT INTEREST RATES AND TERMS.
   (A)   The terms of assessments shall be determined by the City Council, based upon life expectancy of the improvements and project financing.
   (B)   The maximum term may be 20 years.
   (C)   The Council shall apply an interest rate to unpaid assessments that will enable the city to meet bond principal and interest payments as defined under percent over bond under general definitions.
   (D)   The rate shall be set a 2% over the general obligation bond rate for the project.
(Ord. passed 6-16-1998)

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