Ordinance 1665-89 - Laserfiche WebLink

1 City Treasurer is authorized and directed to publish notice as 2 required by law stating that the roll is in his hands for 3 collection and that payment of any assessment thereon or any 4 portion of such assessment can be made at any time within thirty 5 days from date of first publication of such notice without 6 penalty, interest or cost , and that thereafter the sum remaining 7 unpaid may be paid in 20 equal annual installments . The 8 estimated interest rate is stated to be 8.5 % per annum, with 9 the exact interest rate to be fixed in the ordinance authorizing 10 the issuance and sale of the local improvement bonds for Local 11 Improvement District No . 728 . The first installment of 12 assessments on the assessment roll shall become due and payable 13 during the thirty-day period succeeding the date one year after 14 the date of first publication by the City Treasurer of notice 15 that the assessment roll is in his hands for collection and 16 annually thereafter each succeeding installment shall become due 17 and payable in like mariner . If the whole or any portion of the 18 assessment remains unpaid after the first thirty-day period, 19 interest upon the whole unpaid sum shall be charged at the rate as determined above, and each year thereafter one of the 20 installments, together with interest due on the unpaid balance, 21 22 shall be collected. Any installment not paid prior to expiration of the thirty-day period during which such 23 installment is due and payable shall thereupon become 24 delinquent . All delinquent installments shall be subject to a 25 - 3 -