CCR2014013-Assessment Policy-Water
COMMON COUNCIL - CITY OF MUSKEGO
RESOLUTION #013-2014
RESOLUTION AMENDING THE
ASSESSMENT POLICY FOR CONSTRUCTION OF WATER MAINS
WHEREAS, Previous assessment resolutions allowed the City to periodically review
interest rates on deferred assessments; and
WHEREAS, The City’s current assessment policy has no sunset for the accrual of
interest on deferred assessments; and
WHEREAS, The City Engineer and Public Works Committee have reviewed the
interest rates and recommend that the existing assessment policy be amended to
reflect that the interest rate will be zero at year 25 for all future deferred assessments;
and
WHEREAS, The City’s intention is to review all existing deferred assessments at year
25 and lower the accruing interest to zero percent at the 25th year;
NOW, THEREFORE, BE IT RESOLVED That the Common Council of the City of
Muskego, upon the recommendation of the Public Works Committee, does hereby
amend the Assessment Policy for Construction of Water Mains, as attached, to reflect
that the interest rate will be zero at year 25 for all future deferred assessments.
BE IT FURTHER RESOLVED That the City intends to review all deferred assessments
th
after the 25 year of commencement of each assessment resolution and lower the
interest rate thereafter to zero percent.
TH
DATED THIS _28 __ DAY OF _JANUARY______ , 2014.
SPONSORED BY:
PUBLIC WORKS COMMITTEE
This is to certify that this is a true and accurate copy of Resolution #013-2014 which
was adopted by the Common Council of the City of Muskego.
________________________________
Clerk-Treasurer
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