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Resolution No. 98-22 CITY OF TIGARD, OREGON RESOLUTION NO. 98c;kQ<' A RESOLUTION ESTABLISHING AN INTEREST RATE TO BE USED IN DETERMINING THE ANNUAL FEE ADJUSTMENT FOR RETMBURSEMENT DISTRICTS. WHEREAS, Tigard Municipal code section 13.09.115(2) stipulates that the Finance Director shall recommend an interest rate to the City Council to be used in determining the annual fee adjustment for reimbursement districts, and, WHEREAS The yield on a treasury bond security with a fifteen year maturity is 6.05%, which return theoretically could be recognized by the sponsor of the improvement had the costs of construction been invested for the same period, and, NOW, THEREFORE, BE IT RESOLVED by the Tigard City Council that: Section 1 -'he interest rate established for 1997/98 for reimbursement districts is 6.05%. PASSED: This � — day of 1998. Mayor - i y of tigard ATTEST: 1 City Recorder - City of Tigar� RESOLUTION NO. 98- Page 1