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An independent project organizing public records from the City of Nowthen, Minnesota. Not an official city site. Documents and votes are sourced from cityofnowthen.gov; interpretations are AI-extracted and may need correction.

Home/Money/Clusters/$6

Cluster · rate · FY 2020

$6

Verified

Placeholder interest rate for assessment amortization.

Not promoted to the official baseline.

This cluster is useful evidence for review. It does not drive the budget simulator until an admin confirms the amount against an official source and promotes it.

Corroboration

2docs

Consensus

33%

Votes attached

0

Date range

2020-07-07 — 2020-07-07

Every document that mentions this number (2)

Meeting City Council Public Hearing — Minutes (2020-07-07)Jul 7, 2020p.3raw: 6%
PDF →Auto-extracted
Placeholder interest rate for assessment amortization.
An item of concern has been the interest rate. The 6% is a placeholder. Typically the interest rate is lower than that, but we don't know what it is because we haven't borrowed the money yet.
Reasoning: Interest rate for assessment payments.
Meeting City Council Public Hearing — Minutes (2020-07-07)Jul 7, 2020p.2raw: 6%
PDF →Auto-extracted
Placeholder interest rate for assessment amortization.
Attorney Ruppe said that the 6% interest rate is a placeholder. The statute states that the council can set it where they want. The city will borrow the money for this.
Reasoning: Interest rate for assessment payments.