CCR1972219RESOLUTION #219-72
DEFERRAL OF SPECIAL ASSESSMENTS PAYABLE IN
INSTALLMENTS AND REDESIGNATION OF
SPECIAL ASSESSMENT B BONDS
(Durham Meadows Subdivision) e
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I.
WHEREAS, by Resolution No. 167-72 adopted August 8. 1972, this Common
Council levied certain special assessments upon the 27 single-family resi-
dential lots, 34 two-family residential lots, and two planned unit development
lots for multi-family purposes within that subdivision of part of the Southwest
One-quarter (S.W. 1/4) of Section Two (2). Town Five (5) North, Range
Twenty (20) East in the City of Muskego, known as "Durham Meadows";
WHEREAS, at the date of adoption of such Resolution the final plat of Durham
Meadows had not yet been executed by the appropriate officers of the City or
recorded, although such plat previously had been approved by this Common
Council by its Resolution No. 155-72 adopted July 25. 1972;
WHEREAS, by Resolution No. 173-72 adopted August 22. 1972, this Common
Council confirmed and readopted the levy of such special assessments against
the lots in said subdivision modifying only the period for which interest should
be payable with each of the second through fifth installments of such assessments,
the final plat of said subdivision having been recorded by that date;
WHEREAS, the first combined assessment so levied against the lots in said
subdivision was initially by Resolution No. 167-72 made payable in five equal
annual installments of principal, the first such installment to be payable with
the first installment of general real estate taxes for the year 1972 on or before
the last day of February, 1973;
WHEREAS, it subsequently has been determined, as to Lot 7 in Block 1, Lot 9
and Lots 23 through 34 in Block 2, and Lots 1 through 11 in Block 3, all in said
Durham Meadows subdivision, that no use of the improvements with respect to
which said first combined assessment was levied can or will be made in connec-
tion with such property at least until 1973;
WHEREAS, by Resolution No. 168-72, adopted August 8. 1972, this Common
Council authorized the issuance of Special Assessment B Bonds for the purpose
of anticipating the collection of said Special Assessments payable in installments,
and designated the Series of Special Assessment B Bonds which would include
those to be issued for the purpose of anticipating the collection of said Special
Assessments as "1972 Series A";
NOW. THEREFORE, BE IT RESOLVED, that as authorized by Section 66.605,
Wis.Stats., said first combined assessments upon Lot 7 in Block 1. Lot 9 and
Lots 23 through 34 in Block 2. and Lots 1 through 11 in Block 3. all in said
Durham Meadows subdivision, shall be payable in five equal annual installments
of principal, all as provided in Resolution 167-72 as modified by Resolution 173-72.
provided, however, that such installments shall be deferred while no use of the
improvements can be made, so that the first annual installment shall be payable
with the first installment of general real estate taxes for the year 1974 on or
before the last day of February, 1975;
FURTHER RESOLVED, that said authorization of issuance of Special Assess-
ment B Bonds is hereby readopted and confirmed. this date, with the same
effect as though all of the terms and provisions of Resolution 168-72
were set forth in this Resolution, provided, however, that those Bonds to be
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issued for the purpose of anticipating the collection of said first combined
assessment against Lot 7 in Block 1, Lot 9 and Lots 23 through 34 in Block
2, and Lots 1 through 11 in Block 3, all in said Durham Meadows subdivision,
shall be issued as a separate series designated "1973 Series B". and shall be
payable in five (5) annual installments each in the amount of one-fifth (1/5) of
the principal amount of said Bond, which principal installments shall mature
serially on the 5th day of March in the years 1974 through 1978. all other terms
of said Bonds to be the same as though issued as part of the 1972 Series A. as
said terms are set forth in Resolution 168-72.
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* DATED THIS >f DAY OF ,qd 7w , 1972.
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ATTEST:
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Bette J. Bowyer. City Clerk