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section and authorize the expenditure of city funds to pay the <br />deficit; or <br />fib} Prepare a proposed deficit assessment. <br />The counci 1 shat 1 set a time far the counci 1 or its designee to hear ab jec- <br />tions to the deficit assessment and shall direct the finance officer to <br />notify the owners of each parcel of real property to be assessed, as provided <br />i n section 7.185. After considering evidence and argument presented at the <br />hearing, the council shall make a just and equitable assessment by ordinance, <br />why ch shall be entered ~ n the docket of city 1 i ens as provided by section <br />?.225. Notice of the assessment shall be sent to the owner in accordance <br />with section 7.190, and the collection of the assessment shat l be made i n <br />accordance with sections 7.190 and 7.225, <br />7.240 Local Improvements -Rebates. ~ f, upon the completion of the 1 oval <br />improvement proUect, ~t ~s found that the assessment previously <br />levied upon any parcel of real property is more than sufficient to pay the <br />costs of such improvement, the council shall ascertain and declare the excess. <br />When so declared, the excess shall be entered on the lien docket as a credit <br />upon the appropriate assessment. In the event that any assessment has been <br />paid, the owner of the parcel at the time the excess i s declared by the <br />council shall be entitled to the repayment of the excess. <br />7.245 Local Improvements -Sewer Utility Fund, All sums of money <br />co ecte pursuant to subsection 1.115 2}fib}5,d, shall be credited <br />to the sewer utility fund of the city, <br />7.250 Local Im rovements -Segregation of Assessments. <br />whenever property assessed as an entire tract is subsequently <br />subdivided or parti ti oned, a person owning any of the subdivision or parti - <br />ti on and desiring to remove the assessment or to apportion the assessment <br />among the 1 ots i n the subdivision ar parcels i n the partition shat 1 appl y <br />through the city finance officer to the council for a segregati on of the <br />assessment and a determi nati on of the amount due on that subdivision or <br />partition. <br />~2} The finance officer shall thereupon cause an appraisal of the <br />entire subdivision or partition. <br />~3} If the council finds that the segregation can be made without <br />prejudice to the security interest of the city, the finance officer shall , <br />upon receiving payment applicable to the segregated portion of the tract, <br />d~ scharge the 1 ~ en of the assessment on that subdivision or partition, Pro- <br />vided, however, that if the lien is discharged before it is determined if <br />there will be a rebate or deficit assessment, the owner shall be advised in <br />writing and a notati on shat l be made i n the 1 i en record of the possi bi 1 i ty <br />of a rebate or deficit assessment. <br />~4} Notwithstanding subsection 7,2503}, if the assessment is for <br />off-street parking facilities, the finance officer shall conduct a hearing <br />on the requested segregation, Each owner of a l at i n a subdi vi si on or par- <br />cel ~ n a party t~ on shat 1 be entitled to be heard at that hearing and shat 1 <br />receive ten days advance notice of the hearing. On the basis of the evidence <br />presented at the hearing, the finance officer shall recommend to the council <br />that the segregation be approved or disapproved. Upon receipt of the recom- <br />Ordinance - 34 <br />