CCR1967001RESOLUTION #l-67
AS AMENDED
ESTABLISHING THE POLICY UPON WHICH INTEREST
RATES FOR SEWER INSTALLATION WILL BE CHARGED
WHEREAS the installation of sewers in the City of Muskego will
necessitate borrowing monies to pay for the assessable charges
as well as the non-assessable charges, and
WHEREAS the assessable charges to be paid by the abutting
property owners can be paid over a 10-year period which will
thus involve interest and administration costs, and
WHEREAS the Municipal Sewer Committee has recomended that
the interest charged to the abutting property owners where
sewers are installed in the City of Muskego and shall be no
higher than that which is paid by the City plus an additional
114 of 1% for administration.
THEREFORE BE IT RESOLVED that the Common Council of the City
of Muskego does hereby establish the following policy relating
to interest and administrative charges involving the instal-
lation of public sewers:
That all interest charges relating to the installations of Public
sewers shall be no more than that which the City must pay when
it borrows the necessary funds plus the additional amount of
1/4 of 1% to recover the costs of administration and that this
would apply to abutting property owners where sewers were installed.
e
PUBLIC SEWER COMMITTEE
ATTEST: