Property subject to a lien for unpaid charges shall be sold for nonpayment of the same, and the proceeds of the sale shall be applied to pay the charges, after deducting costs, as is the case in the foreclosure of statutory liens. Such foreclosure shall be by bill-in-equity in the name of the City. The City is hereby authorized and directed to institute such proceedings in any court having jurisdiction over such matters against any property for which the bill has remained unpaid.