Resolution 3023- Rental Rates for City LandCITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO. 82 -3023
A RESOLUTION ESTABLISHING POLICY REGARDING
THE RENTAL OF MUNICIPALLY OWNED LAND
WHEREAS, the City of Hopkins owns various parcels of land which may
be from time to time temporarily surplus to operating needs,
NOW THEREFORE, IT IS HEREBY RESOLVED by the City Council of the City
of Hopkins as follows:
1. The rent established for each parcel of land shall be
calculated annually, as of each January 1, beginning
January 1, 1983.
2. The calculation shall be performed as follows:
The assessor's market value for the subject parcel,
times the current average percentage rate of interest
designated by the Finance Director, plus the "in lieu"
tax payment made to,Hennepin County, shall equal the
annual rent for the subject parcel.
3. "Month to month" renters pay the annual rent on a
prorated monthly basis, due the first of each subject
month. Annual renters may either pay monthly as above,
or may choose to pay the annual rent in a lump sum
during the month of January. If the rent is paid in
a lump sum, a 10% discount will be given.
Passed and adopted by the Council of the City of Hopkins, Minnesota at
a special meeting held the 28th day of September, 1982.
J. SCOTT RENNE ROBERT F. MILLER
City Clerk Mayor
JOSEPH C. VESELY
City Attorney