Section
Public Improvements - Installment Payment Plan
39.01 Authority to provide installment plan financing
39.02 City Engineer to prepare certificate of apportionment
39.03 City Clerk to send notice requiring payment of assessment
39.04 When payment due; delinquent payments
39.05 Election of installment payment plan by property owner
39.06 Payment procedure under installment payment plan
39.07 Disposition of collected payments
39.08 Sale of bonds in anticipation of collected payments
39.09 Restrictions on issued bonds
Public Projects
39.20 Public Properties Corporation established
PUBLIC IMPROVEMENTS - INSTALLMENT PAYMENT PLAN
When the city undertakes a public improvement project to be financed by assessments of benefited property owners pursuant to KRS 91A.200 to 91A.290, the city may provide for the installment payment of such assessments and for long-term financing of that portion of the cost of the improvement project assessed against property owners who elect installment payment by the issuance and sale of revenue bonds pursuant to KRS 91A.220(3), as hereinafter set out in this chapter.
(B) If, in the comprehensive report required by KRS 91A.240 and the Ordinance adopted pursuant to KRS 91A.260, the city elects to make the installment payment plan with long term bond financing described in division (A) above available, the city may proceed to provide such plan and financing in the manner set forth in this chapter.
(Ord. O-18-83, passed 5-24-83)
Where the city has proceeded with an improvement or part thereof pursuant to KRS 91A.280(1), the City Engineer shall, at such time thereafter as the amount of the assessment of each benefited property owner may be accurately determined, prepare a certificate of apportionment showing the total cost of the portion of the improvement to be assessed; the number of assessable units of benefited property according to the basis of assessment to be utilized; the cost per assessment unit; the names of the owners of the benefited property; the number of assessable units owned by each person; and the proportionate part of the cost of the improvement to be assessed against the benefited property of each owner. The certificate shall be delivered to the City Clerk.
(Ord. O-18-83, passed 5-24-83)
Upon receipt of the certificate of apportionment, the City Clerk shall send by certified mail to each person listed in the certificate as owning an assessment, a notice requiring payment of the assessment pursuant to KRS 91A.280(1). The notice shall inform each person of the amount of the assessment, the due date of the assessment, the availability of the installment payment plan, the last date upon which the person may elect installment payments, and the method of such election provided for herein.
(Ord. O-18-83, passed 5-24-83)
The assessment shall be due and payable at the office of the City Clerk 30 days after the day of mailing of the notice, subject to deferment when the installment payment plan is elected. Any assessment that is not paid when due shall bear interest at the same rate that is applicable to general city taxes, which interest shall commence to run as of the due date of the assessment and shall continue to run and be chargeable until paid.
(Ord. O-18-83, passed 5-24-83)
(A) Any property owner who desires to elect the installment payment plan shall, before the due date of the assessment, enter into an agreement in writing with the city that in consideration of this privilege he will make no objection to any illegality or irregularity in the assessment against his property, and that he will pay the assessment in the manner provided herein. Any property owner entering into such an agreement shall be precluded thereby, and shall waive any defense against the payment of the assessment. The agreement shall be filed in the office of the City Clerk, who shall preserve it as part of the records of her office.
(B) If any property subject to an assessment is owned by an infant, a person of unsound mind, or a life tenant, or is property which has descended by inheritance or will, the agreement provided for in this action may be executed by the statutory guardian of the infant, the committee or curator of the person of unsound mind, the life tenant, the heirs at law, the devisees, or the personal representative of the deceased owner of the property.
(C) In all cases where agreements have not been filed within the time specified herein, the entire assessment shall be payable in cash, and shall be subject to interest as provided herein.
(Ord. O-18-83, passed 5-24-83)
Loading...