CCR1996059L~~NDE~
COMMON COUN Y OF MUSKEG0
RESOLUTION #59-96 .m
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REDUCTION OF RESERVE CAPACITY SPECIAL ASSESSMENTS
BY REDUCTION OF INTEREST RATE
WHEREAS, a Final Assessment Resolution, #169-84, was entered
concerning RCA assessments on August 28, 1984 and amended through
Resolution #29-92 on January 28, 1992; and
WHEREAS, said Resolutions in the paragraphs of Section 5 provide
for an interest rate of 9% per annum on certain unpaid
installments; and
WHEREAS, the Common Council of the City of Muskego, upon the
recommendation of the Public Utilities Committee, wishes to
reduce said interest rate to 8% per annum because of the City's
cost of money as well as to reflect a uniform policy for both
sewer and water utilities.
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
1. The Common Council of the City of Muskego wishes to reduce
said interest rate to 8% per annum because of the City's
cost of money as well as to reflect a uniform policy for
both sewer and water utilities subject to passage of
Ordinance #887.
2. A third paragraph is hereby added to Section of 5 of said
Resolutions as follows:
"All annual installments due on the 1st day of November,
1996 and thereafter shall bear interest at the rate of 8%
per annum on the same basis as stated above until further
action of the Common Council.
DATED THIS 27th DAY OF FEBRUARY , 1996.
SPONSORED BY:
Mayor David L. De Angelis
This is to certify that this is a true and accurate copy of
Resolution #59-96 which was adopted by the Common Council of the
City of Muskego.