MEMORANDUM

KENAI PENINSULA BOROUGH

FINANCE DEPARTMENT

TO: Timothy Navarre, Assembly President

Members of the Kenai Peninsula Borough Assembly

THRU: Dale Bagley, Mayor

FROM: Jeffrey Sinz, Finance Director

DATE: November 7, 2001

SUBJECT: Assembly Ordinance 2001-42, Otter Trail Utility Special Assessment

Attached please find the ordinance of assessment and the final assessment roll for the Otter Trail Utility Special Assessment District. The gas mainline has been constructed and a bill has been presented to the borough for payment. The gas mainline benefits 22 lots within the district. The total cost of the assessment is $70,653. Based on equal allocation of the total cost of the project, the special assessment per lot in the district is $3,211.50. The assessment may be prepaid without interest within thirty days of the notice of assessment. If not prepaid, the assessment is payable over a ten-year period in equal installments with interest accruing as provided in the attached ordinance. The assessment constitutes a lien on each parcel within the district.