Laserfiche WebLink
subject to collection of all past due special. assessments as a <br />part of said purchase price. Any past due special assessments <br />not collected on sale shall be subject to reassessment or, at the <br />option of the Council, the entire outstanding special assessment <br />amount including interest shall be due in cash at the time a <br />building permit is issued for the property. <br />b) Retention of any tax forfeit property for City use, which <br />property has unpaid special assessmentsdue, shall havethe total <br />outstanding special assessment amount charged, against the City <br />department or operating fund for which said land was obtained. <br />11. Deferred Assessments. <br />a) Low-income senior citizens will bt jligible to have payment of <br />any special assessment deferred for a period of f ive (5) years in <br />accordance with the terms of Resolution i1093. <br />b) At the time any assessment roll is adopted, the Council may elect <br />to defer collection of any special assessment or portion thereof <br />that would otherwise have been charged to property in the <br />project. Such deferrals when made shall be uniformly applied to <br />all properties in the same class (example: vacant properties <br />assessed for trunk sewer when no lateral sewer is available). <br />Collection of deferred assessments shall be determined by the <br />Council at the time the roll is adopted, in one of the following <br />ways: <br />1) Deferral for a specified number of years with collections <br />thereafter with property taxes in the normal fashion; or <br />2) Collection in cash as a connection charge at the time of <br />issuance of any building permit; or <br />3) Collection in cash at the time of approval of any subdivision or <br />planned unit development for the property. <br />12. Repayment Period. The number of years over which a special <br />assessment is spread shall be uniform for all properties assessed <br />under any one levy, and shall be determined by the typical amount of <br />individual assessments and/or the duration of the bond issue: <br />a) Average principal amounts of $100 or less per property shall <br />normally be assessed for collection in one installment. <br />b) Average principal amounts of $500 per property shall normally be <br />assessed for collection in 3 to 5 installments. <br />c) Typical principal amounts averaging mrre that $500 per Froperty <br />shall normally be assessed for collection over 12 to 15 <br />installments depending upon the bond issue duration. <br />d) Assessments levied specifically for work benefitting any new <br />subdivision )r private development shall be subject to an <br />page 5 of 15 <br />