Ordinance 1659-89 - Laserfiche WebLink

• 1 Section 3 . The supplemental assessment roll as thus 2 approved and confirmed shall be filed with the City Treasurer 3 for collection and the City Treasurer is authorized and directed 4 to publish notice as required by law stating that the roll is in 5 his hands for collection and that payment of any assessment 6 thereon or any portion of such assessment can be made at any 7 time within thirty days from date of first publication of such 8 notice without penalty, interest or cost, and that thereafter 9 the sum remaining unpaid may be paid in twenty equal annual 10 installments . The estimated interest rate is stated to be 8 . 5% 11 per annum, with the exact interest rate to be fixed in the 12 ordinance authorizing the issuance and sale of the local 13 improvement bonds for Local Improvement District No . 726 . The 14 first installment of assessments on the supplemental assessment 15 roll shall become due and payable during the thirty-day period 16 succeeding the date one year after the date of first publication 17 by the City Treasurer of notice that the supplemental assessment 18 roll is in his hands for collection and annually thereafter each 19 succeeding installment shall become due and payable in like 20 manner . If the whole or any portion of the assessment remains 21 unpaid after the first thirty-day period, interest upon the 22 whole unpaid sum shall be charged at the rate as determined 23 above, and each year thereafter one of the installments , 24 together with interest due on the unpaid balance, shall be 25 collected. Any installment not paid prior to expiration of the - 3 -