From and after the adoption of this chapter, the City Council may, in its discretion, defer the payment of any special assessment heretofore or hereafter made for local improvements constructed by the city within the city when, in its discretion, it determines by a three-fifths vote of the Council that the property upon which the assessment is to be levied is homestead property, that 1 or more of the owners of the property is 65 years of age or over, and that payment of the assessment would be a hardship for the owner thereof.
(Prior Code, § 22.01)