§ 110-142. Assessments to constitute a lien.

(a)

All assessments for any project under the provisions of this article, shall constitute liens upon the property assessed from the date of the adoption of the tentative assessment ordinance ordering the project, and shall be equal in rank and dignity as liens of all state, county, district or municipal taxes and other non-ad valorem assessments. Assessments shall be collectible in the same manner, with reasonable attorney fees, interest and penalties for default in payment, and under the same provisions as to sale and forfeiture as apply to general county ad valorem taxes.

(b)

If assessments made under the provisions of this article to defray the costs of the project shall be deemed by the council to be inadequate to meet the obligation owed to bondholders and to pay fees required for credit enhancement on the bonds, if any, the council may adjust the payment period of and the rate of interest on installment payments of the assessment so that payments of assessments shall be sufficient to satisfy the contractual obligation owed to bondholders and the credit enhancement provider. However, such adjustment shall not have the effect of increasing the assessment of any property, including the effect of increasing the amount of assessment of any property in proportion to the amount of benefits conferred on that property. Further, the council, in adjusting the interest rates and the period of payment of assessments, shall follow the provisions of division 3 providing for notice and hearing to interested persons and providing for passage of ordinances establishing assessments.

(c)

Enforcement of liens and collection of assessments with interest and penalties and with reasonable attorney fees may also be made by foreclosure in a court of equity, and it shall be lawful to join in any such bill for foreclosure any one or more units, lots or parcels, by whomsoever owned upon which such liens are delinquent, if assessed for costs of projects made under the provisions of this article.

(d)

The county shall have the right to appoint an agent to foreclose and collect all delinquent assessments in the manner provided by law. Failure to pay any installment of principal or interest of any assessment within 30 days of when such installment is due, the county may, without notice or other proceedings, cause all installments of principal remaining unpaid with respect to the assessment to be immediately due and payable with interest due thereon from the date of default. In the event the assessment is declared to be in default by the county, such delinquent property may be foreclosed in the same method now or hereafter provided by law for the foreclosure of mortgages on real estate, or as otherwise provided by law. If before the sale of the property for failure to pay a delinquent assessment and the enforcement of the county's lien, payment of all delinquent amounts shall be paid, including all penalties, interest costs, reasonable attorney fees and costs for draws on a credit facility, such payment, at the option of the county, shall have the effect of restoring the remaining installments to their original maturities as provided by the ordinance passed pursuant to the section 110-121 and the proceedings shall be dismissed.

(e)

At the sale pursuant to decree in any such action, the county may be the purchaser to the same extent as an individual person or corporation. Property so acquired by the county may be sold or otherwise disposed of, the proceeds of such disposition to be placed in such fund as provided by any ordinance or resolution authorizing the issuance of the bonds.

(Ord. No. 94-19, Art. I, § 3(Art. 4, § 4.2), 12-15-94)