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I I I Sponsored by: ~ CITY OF SEWARD, ALASKA RESOLUTION 2000-027 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, CONFIRMING THE SPECIAL ASSESSMENT ROLL OF THE MARATHON VIEW II ELECTRICAL IMPROVEMENT DISTRICT, PROVIDING FOR THE LEVY, PAYMENT SCHEDULE AND PENALTIES OF THE SPECIAL ASSESSMENT DISTRICT AND APPROPRIATING FUNDS WHEREAS, after a public hearing, the City Council of the City of Seward, Alaska, did authorize the construction of improvements described as the Marathon View II Electrical Improvement District; and WHEREAS, a special assessment has been proposed which will apportion the cost of the improvement among the properties to be benefitted by it; and WHEREAS, after conducting a public hearing, the City Council has found that the method of assessment proposed by the city administration and attached hereto is a fair method of apportioning the costs of the improvement. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, that: Section 1. The Special Assessment Roll, a copy of which is attached and incorporated herein by reference, for the Special Improvement District described as the Marathon View II Electrical Improvement District is hereby approved and confirmed. Section 2. Assessments are hereby levied against the properties set forth in the Special Assessment Roll in the amounts set opposite each property in such roll. Section 3. Installment payment of the assessment against each property is hereby declared acceptable with the payments being made pursuant to the following schedule: Annual Payment Date: Rate ofInterest: June 1 Deferred or installment payments of special assessments shall bear interest at an annualized rate of the lesser of (1) the prime rate published in the Anchorage Daily News Business section under Money Rates for the date the resolution confirming the special assessment roll is adopted plus 2% or (2) 15 percent.