05.02B - Request by Jenkins Township Board to Adopt Resolution

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for bonded indebtedness for projects completed or embarked upon prior to the date of this Joint Resolution. 12. Assets: Upon the effective date of the annexation of the Town, all of the assets (inclusive of real property) and fund balances of the Town will become assets and fund balances of the City. All the records of the Town that pertain to the portions of the present Town being annexed will become records of the City. All rights and obligations of the Town existing on that effective date become the rights and obligations of the City as of that date. 13. Dedicated Funds of the Town: Any dedicated funds for roads affected by annexation, shall be turned over to the City within 15 days after the date of the annexation order. The Town shall forward any accounts receivable to be collected in the future for dedicated roads on annexed lands to the City. 14. Rural and Urban Service Districts: The City shall be divided into an urban service district and a rural service district. Because the Town will not be benefited to the same degree as other lands by municipal services financed by general taxation,the rural service district shall include all of the Jenkins Township. The urban service district shall include all lands within the boundaries of the City which are not included in the rural service district. 15. Special Taxing District: The rural service district will be designated as a Special Taxing District per the Crow Wing County Auditor. The tax rate of the Rural Service District shall be increased to 20% at the time of annexation. Following the date of annexation the tax rate of the rural service area identified in Exhibit A shall be increased in substantially equal portions over five(5) years to equality with the local tax rate on property currently existing in the City of Pequot Lakes' Rural Service District. 16. Sewer and Water Service: The City has adopted a sewer and water ordinance which requires appropriate sizing of trunk sewer lines and water facilities. This ordinance provides for anticipated development as described in the current Comprehensive Plan and Zoning Ordinance. a. The goal is to provide sewer and water services to designated areas as necessary in a logical, orderly and cost efficient manner. Consideration shall be given to the following: i. Use of public sewer and water systems is required when public sewer service is extended and accessible to a building or premises. When the public water service is extended and available to a building or premises, it may be connected to the public water supply. Whereupon private residential wells may continue to be used for lawn sprinkling systems.