HomeMy WebLinkAboutPUBLIC HEARING 1967-08-16 SPEC ASSESSMENT DISTRICTS 8916
MINUTES OF PUBLIC HEARING ON INCREASING THE INTEREST RATE ON UNPAID INSTALLMENTS
IN CONFIRMED SPECIAL ASSESSMENT DISTRICTS NO. 25 THRU NO. 32
On August 16, 1967, the above Hearing was held at the City Hall, 33001 Five
Mile Road, Livonia, Michigan, and was called to order by the President of the Council at
approximately 8.31 P. M. Present--Peter A. Ventura, Rudolf R. Kleinert, Edward H. McNamara,
Robert F. Nash and Edward G. Milligan. Absent--Jerry Raymond and Jack Salvadore.
The President stated that pursuant to the provisions of Ordinance No. 401, as
amended, of the City of Livonia, entitled"An Ordinance to Provide for the making of Public
Improvements, Defraying the Expense Thereof by Special Assessment and a Special Assess-
ment Procedure", and likewise pursuant to a Notice of Public Hearing duly published and
sent to property owners in accordance with said Ordinance No. 401, as amended, the City
Council was opening a Public Hearing for the purpose of determining whether or not the
rate of interest to be charged on the deferred installments of Special Assessment Districts
No. 25 thru No. 32 should be changed to six per cent in order to provide sufficient
receipts from the collection of principal and interest on the aforesaid Special Assessment
Districts to permit marketing of the bonds in anticipation of the collection of said
special assessments.
There were approximately fourteen people in the audience.
Questions and comments from interested persons were given due consideration by
the Council, a transcript of which is on file in the office of the City Clerk.
There being no further comment, the Public Hearing was declared closed at
9.17 P. M., August 16, 1967.
ADDISON W. BACON, C' , Cler.