Ordinance No. 20311 - Laserfiche WebLink

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days of the effective date of this ordinance. Assessments that remain unpaid after the ten day period are declared to be liens upon the respective lots~ parts of lots or parcels of land against which said several amounts are assessed, and may be paid, with interest on the unpaid principal amount commencing ten days after the effective date of this ordinance: 4.1 In up to twenty semi-annual installments, including pnncipal and interest at the rate set by the City Manager as provided in E.C. 2.022 through 2.024. 4.2 If the property owner so elects, in 120 monthly installments, including principal and interest at the rate set by the City Manager as provided in E.C. 2.022 through 2.024 plus a service charge determined by the City Manager as provided in E.C. 2.020. Section 5. The City Recorder is directed to enter in the docket of City Liens a statement in connection with each unpaid assessment containing the following: 5.1 A description of each lot, part of lot or acreage specially benefitted by the local improvement; 5.2 The name of the owner or reputed owner thereof, or that the name of the owner is unknox~m; and 5.3 The sum assessed upon said property, the amount and date from w?fich interest accrues, and the date of entering the same in the docket of City Liens. Section 6. Upon enactment of this ordinance, the City Finance Officer shall send notice of the assessments by first class mail to the owners of the assessed parcels containing the information required by E.C. 7.190 and enclose therewith an application for paying the assessment in ~nstallments according to the terms set forth in Section 4 of this ordinance. Section 7. Any assessment remaining unpaid and for which no application for installment payments has been received may be foreclosed as provided by law. The proceeds from the payment or foreclosure of assessments levied by this ordinance shall be deposited to the city funds which advanced the cost of construction, engineering and related expenses or-which are used to retire any indebtedness incurred by the City for this improvement. Ordinance - 3