Laserfiche WebLink
<br />4.2 If the property owner so elects, in 120 monthly installments, including <br />principal and interest at the rate set by the City Manager as provided in E.C. <br />2.022 through 2.024 plus a service charge determined by the City Manager as <br />provided in E.C. 2.020. <br /> <br />Section 5. The City Recorder is directed to enter in the docket of City Liens a <br />statement in connection with each unpaid assessment containing the following: <br /> <br />5.1 A description of each lot, part of lot or acreage specially benefited by <br />the local improvement; <br /> <br />5.2 The name of the owner or reputed owner thereof, or that the name of <br />the owner is unknown; and <br /> <br />5.3 The sum assessed upon said property, the amount and date from <br />which interest accrues, and the date of entering the same in the docket of City <br />Liens. <br /> <br />Section 6. Upon enactment of this ordinance, the City Finance Officer shall <br />send notice of the assessments by first class mail to the owners of the assessed parcels <br />containing the information required by E.C. 7.190 and enclose therewith an application <br />for paying the assessment in installments according to the terms set forth in Section 4 of <br />this ordinance. <br /> <br />Section 7. Any assessment remaining unpaid and for which no application for <br />installment payments has been received may be foreclosed as provided by law. The <br />proceeds from the payment or foreclosure of assessments levied by this ordinance shall <br />be deposited to the city funds which advanced the cost of construction, engineering and <br />related expenses or which are used to retire any indebtedness incurred by the City for <br />this improvement. <br /> <br />Section 8. An immediate effective date of this Ordinance is necessary to allow <br />the City to begin immediate collection of the assessments that will be used to pay the <br />obligations the City has incurred for this project. Enabling the City to begin collecting <br />assessments will avoid increased interest costs and conserve limited City resources. <br />Therefore, this Ordinance shall become effective immediately upon its passage by the <br />City Council and approval by the Mayor, retention by the Mayor for more than ten days, <br />or re-adoption over a Mayoral veto by two-thirds of all members of the City Council. <br /> <br />Passed by the City Council this <br /> <br />10th day of March <br />~ <br />I \ ~ ~;t~~~~~~L "-- <br /> <br />Approved by the Mayor this <br /> <br />12th day of March "" <br /> <br />Ordinance - 3 <br /> <br /> <br />i <br />