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Florence, KY Code of Ordinances
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PUBLIC IMPROVEMENTS - INSTALLMENT PAYMENT PLAN
§ 39.01 AUTHORITY TO PROVIDE INSTALLMENT PLAN FINANCING.
   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)
§ 39.02 CITY ENGINEER TO PREPARE CERTIFICATE OF APPORTIONMENT.
   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)
§ 39.03 CITY CLERK TO SEND NOTICE REQUIRING PAYMENT OF ASSESSMENT.
   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)
§ 39.04 WHEN PAYMENT DUE; DELINQUENT PAYMENTS.
   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)
§ 39.05 ELECTION OF INSTALLMENT PAYMENT PLAN BY PROPERTY OWNER.
   (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)
§ 39.06 PAYMENT PROCEDURE UNDER INSTALLMENT PAYMENT PLAN.
   In cases where the installment payment plan has been elected, the installments and interest shall be payable as follows:
   (A)   If the next due date for regular city taxes will occur less than six months from the original due date for the assessment, the property owner, at the time he executes the installment option agreement, shall pay to the City Clerk an amount equal to interest on the total amount of the assessment against him at the same rate of interest applicable to regular city taxes, computed from the original due date for the assessment to a date six months beyond the due date for regular city taxes.
   (B)   If the next due date for regular city taxes will occur more than six months from the original due date for the assessment, the property owner, at the time he executes the installment option agreement, shall pay to the City Clerk the first installment of one-tenth of his total assessment together with an amount equal to interest on the unpaid installments of the assessment, at the same rate of interest applicable to regular city taxes, computed from the original due date for the assessment to a date six months prior to the next due date for regular city taxes.
   (C)   In the situation contemplated by division (A) of this section, an installment equal to one-tenth of his total assessment shall be payable by the property owner at the second succeeding due date for regular city taxes following the original due date for the assessment, and annually thereafter an additional one-tenth shall be due until the assessment is paid.
   (D)   In the situation contemplated by division (B) of this section, the second installment of one-tenth of his total assessment shall be payable by the property owner at the due date for regular city taxes next following the original due date for the assessment, and annually thereafter an additional one-tenth shall be due until the tax is paid.
   (E)   At the time an installment is due under either division (C) or (D) of this section, there shall also be due interest for one year on the installments that will thereafter remain unpaid, plus interest for six months on the installment then being paid. However, when the last installment is paid, the only interest due shall be six months' interest on the installment then being paid. Such installments of interest shall be at the rate which the bonds issued and sold pursuant to § 39.08 hereof shall bear, except that the first such installment of interest shall be adjusted by the difference between the interest rate applicable to regular city taxes and the interest rate of the bonds in such a manner that the property owner will pay the same amount of interest which would have been paid by him if the interest payments made by him under divisions (A) or (B) of this section had been made at the interest rate of the bonds.
   (F)   The City Clerk may cause to be placed upon the regular city tax bills each installment due under division (C) or (D) of this section, with the interest payments due under division (E) of this section added thereto so as to make one sum, or the City Clerk may send a separate bill for such sum at the same time regular city tax bills are sent. If such sum is not paid by the next due date for regular city taxes, the sum shall then become subject to interest and penalty the same as the regular city taxes and shall be collectible and be collected in the same manner and by the same methods and remedies as the regular city taxes. However, any early payment discount applicable to regular city taxes shall not apply to such sum.
   (G)   Any property owner may at any due date for an installment when five or less installments of his assessment remain to be paid (counting the installment then due) pay the entire amount of the unpaid assessment together with six months' interest on that amount, which shall constitute full payment of the assessment.
(Ord. O-18-83, passed 5-24-83)
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