SID Levy to Drop & Four properties to be foreclosed

posted Sep 3, 2013, 11:15 AM by Larry Ossenkop   [ updated Sep 3, 2013, 12:08 PM ]
The Johnson Lake SID#1 Board of Trustees met on the 21st of August.  The preliminary budget levy request was reviewed by
Clerk Ossenkop, who suggested that the levy be dropped from last year's total of $618 per $100,000 of property valuation to just
$550 per $100,000 of property valuation; which would generate $748,800 revenue to cover the upcoming CW-SRF Loan and
Bond payments of $1,100,553.  He remarked that the SID benefited from the many property sales last year and the paying off of
the SID Assessments, which he expects to continue during the next fiscal year.  Overall, the new valuations for the property within the SID boundary increased 17.4% which total $136,151,548 compared to approximately $80,000,000 at the time of the District's initial
formation.

The board was advised that four properties possibly will become subject to foreclosure action; in as much as they could have three
or more years of delinquent Assessment Payments as of the August 12th due date.  Ossenkop was instructed to initiate the required
foreclosure action in the District Court should such be the case as of September 15th, and to advise the parties that the entire balance
of the Assessment is hereby called and will draw 14% interest and that it must be paid in full.  Partial payments will no longer be allowed.
The one property foreclosed on last year was able to have their mortgage company pay the assessment balance, so the case was then dismissed.  It was reported that several reminders have been sent to the affected property owners.

The board was also advised that the 3rd Lagoon Cell Project was completed at nearly $200,000 under the initial engineering estimate
of $742,500.  Sufficient clay located within the SID property was used to line the cell without using bentonite or a artificial liner and used
concrete obtained from the Nebraska Department of Roads in Cozad was used at a substantial savings rather than limestone from Weeping Water to line the cell dikes.  These factors, along with cooperative weather conditions and cooperative efforts by the engineering firm (Olmsted & Perry of Omaha), soil engineers (Mid State Engineering of Kearney & Columbus), contractor (Van Kirk Bros of Sutton) and the SID representatives contributed to the successful completion of the project; which was put into operation early last Spring.

Other actions taken included an update by the SID Operator and payment of the District's bills.
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Larry Ossenkop,
Nov 12, 2013, 8:17 PM
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