HomeMy WebLinkAboutResolution 4985 Levying a Special Assessment on SID 750, North Tracy Avenue to
RESOLUTION NO. 4985
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN
LEVYING A SPECIAL ASSESSMENT UPON ALL PROPERTY SITUATED WITHIN
SPECIAL IMPROVEMENT DISTRICT NO. 750 IN THE TOTAL AMOUNT OF
$195,344.50 TO DEFRAY THE COST OF MAKING THE IMPROVEMENTS IN SAID
SPECIAL IMPROVEMENT DISTRICT PURSUANT TO RESOLUTION NUMBER 4983
CREATING THE DISTRICT.
WHEREAS,the City Commission of the City of Bozeman, Montana did create Special
Improvement District 750 (the "District") and thereby ordered and directed to be made within the
District improvements as specified in Resolution No. 4984 (the "Improvements"); and
WHEREAS, the actual cost of said Improvements to be assessed against the properties
within the District amounts to the sum of$388,689.00 of which$195,344.50 including incidental
expenses of$1000.00 (the "District's Share of the Improvements") is to be paid over a period of
twenty (20) years by property located within the District; and
WHEREAS, the properties located in the District are to be assessed bi-annually to
defray the District's Share of the Improvements; each lot, tract, piece, or parcel of land to be
assessed for its proportionate share of the whole of the District's Share of the Improvements based
on the formula as set forth in the resolution of intent to create the District; and
WHEREAS, the City Clerk published notice of resolution for levy and assessment in
the Bozeman Daily Chronicle on August 25,2019 and September 1, 2019 and sent mail notices to
the owners of each lot,tract, or parcel of land to be assessed in accordance with 7-12-4177, MCA;
and
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Resolution No. 4985,Resolution to Leine a Special AssessmeW on Property Located in SID 750
WHEREAS,the City Commission conducted a public hearing on the resolution for levy
and assessment September 16, 2019 in accordance with 7-12-4178, MCA.
NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City of
Bozeman, Montana as follows:
Section 1
To defray the costs and expense of making said improvements in the District, the City of
Bozeman hereby levies and assesses a tax upon all property situated within the District in the
respective amounts listed on Exhibit A attached, which is hereby incorporated herein and made a
part hereof. The special assessments for the costs of the Improvements shall be levied and assessed
in accordance with the method of assessments referred to in the resolution of intention. Such
assessments shall be payable over a term not exceeding twenty (20) years, each in substantially
equal semiannual payments of principal and interest. The special assessments shall bear interest
from November 1,2019 until paid at an annual rate of 2.5%. Property owners shall have the right
to prepay the special assessments as provided by law.
Section 2
The Commission hereby ratifies and confirms that the assessment of costs of the specific
Improvements against the property benefitted thereby as prescribed by the resolution of intention
is equitable and in proportion to and not exceeding the special benefits derived from the
Improvements by the parcel to be assessed therefor within the District, and the special assessments
authorized by this resolution are in accordance with the methods and do not exceed the amounts
prescribed by the resolution of intention.
Section 3
The assessments for the District which are listed in the City Treasurer's assessment book
are due and payable to the City Treasurer of the City of Bozeman and will become delinquent at 5
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Resolution No. 4985,Resolution to Lein a Special Assessment on Property Located in SID 750
p.m. on November 30"' and May 31" of each year until they are paid in full.
Section 4
This resolution shall be kept on file in the office of the City Clerk and shall be open to
public inspection.
PASSED, ADOPTED, AND APPROVED by the City Commission of the City of
Bozeman, Montana, at a regular session thereof held on the 16t" a S tuber, 2019.
7 00-<
THIA L. A RUS
ayor
ATTEST: 3
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ROBIN CROUGH .:- ''<
City Clerk • 1�a3 •. cam
fr�T• ! • ••�la APPROVED AS O FORM:
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SULLIVAN
City Attorney
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