(A) All taxes delinquent as stated in § 35.03 above and remaining unpaid on the November 1 of each tax year shall be subject to a penalty of 10% on the taxes so delinquent and shall further bear interest at the rate of 12% per annum from the date due until paid.
(B) The city shall have a lien for all delinquent and unpaid taxes, plus penalty and interest, for five years from the date of assessment on all property subject to city taxation for the year commencing on January 1 of that tax year, which lien shall be superior to all liens and encumbrances, and shall be satisfied and released only upon full payment of the taxes, penalty and interest.
(C) The City Clerk shall settle for all sums collected with the Treasurer at the first meeting of the Commissioners in each month, and shall immediately pay the money, so collected, into the city treasury and make an affidavit that the money so paid is all the taxes or funds that the Clerk has collected or received during the preceding month.
('84 Code, § 220.1, § 4) (Ord. 1983-7, effective 5-17-83; Am. Ord., effective 1989-6, effective 9-5-89)