Ordinance No. 19232 - Laserfiche WebLink

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- ORDINANCE ND. AN ORDINANCE REGARDING ASSESSMENTS FOR OFF-S EET PARK- ING FACILITIES; AMENDING SECTIONS 7,520 AND 7.525 OF THE EUGENE CODE, 197I; REPEALING SECTIONS 1.545 AND 7.570 DF THAT CODE; AND ADDING SECTION 1.543 TO THAT CODE; AND PRO~IIDING AN EFFECTIVE DATE. THE CITY OF EOCENE DOES ORDAIN AS FOLLOWS: Section 1. Sections 7.520 and 1.525 of the Eugene Code I97I are hereby amended as follows; 7.520 Off-Street Parkin -Notice of Actual Assessment. Within IO days after the ordinance levying assessments has been assed the finance officer shall send b ~ p '• y registered or cert~f~ed mail a nat~ce of assessment to the record owners of the assessed ro ert . The p p Y notice of assessment shall state the date of the assessment ordinance and that on the failure of the owner of the property assessed to make application to pay the assessment in installments within 10 da s from the date of recei t of said notice y p as provided by the provisions of ORS 223.205, 223.2I0 to 223.295, entitled the Bancroft Bondin Act or upon failure of the owner to a t .g ' p y he assessment ~n full w~th~n 60 days from the date of entering the assessment on the city assessment docket records, the property assessed will be subject to foreclosure. The notice shall further set forth a description of the property assessed the name of the owner of the property and the amount of each assessment. Interest shall be paid on all assessments from the date of entr of the assessment on the tit assessment y y docket retards. 7.525 Dff-Street Parkin -Semiannual Installment Payments. The council shall set forth in the assessment ordinance the number of semi annual installments fora period not to exceed 20 ears wi thi n y which the property owner may make application and a ree to a the assessment with intere g p y st at the rate set by the council for unpaid assessments. The application shall also contain a statement by lots ar blocks, or other convenient description of the pro ert of the ap licant assessed for t p y p he improvement. Section ~. Anew Section 7.543 is hereby added to the Eu ene Code g , I971, to read and provide: 7.543 Off-Street Parkin -Bond Redem Lion Fund. After bonds have been sold to finance the construction of an off-street arkin facility, all a ments of the ass p g P Y essments, principal and interest, for the fac~l~ty and any other revenue pledged for the facilit `s debt retirement, shall be de osite y p d in a separate bond redemption fund es- tablished to retire the bonded debt, principal and interest issued for Ordinance - I