(A) Classification.
(1) Residential streets. The City Council may direct street improvements or a majority of the property owners representing a majority of property owned may petition for street improvements. In either case, the total cost of all improvements made shall be assessed to the abutting property with two exceptions. First, costs for all intersections shall be paid for by the city; second, driveway costs and removal and replacement costs of encroachments serving the abutting property and within the street right-of-way shall be paid for by the property owner requesting such improvement. The City Council may establish a pro rata share based on frontage served, or any other method to finance improvements by resolution. In this event, the rate, if established by the City Council, shall take precedence over the total cost of assessment.
(2) Collector street. Same as residential street.
(3) Minor thoroughfare. Same as residential street.
(4) Major thoroughfare. Same as residential street.
(5) Industrial or industrial feeder street. Same as residential street.
(B) Method of payment. Assessment may be paid as follows:
(1) At par if paid in full within 60 days of date of assessment.
(2) At 8% interest per annum if paid in five annual installments.
(C) Establishing priority for improvements.
(1) Class (A). Public improvements as designated by City Council.
(2) Class (A-1). Full payment in advance.
(3) Class (B). Receipt of more than 50% of the total cost of payment in advance.
(4) Class (C). Receipt of more than 50% of the total cost to be paid within 60 days of assessment.
(5) Class (D). More than 50% of the total cost to be paid over five-year period.
('70 Code, § 20-4) (Ord. 1981-46, passed 8-3-81; Am. Ord. 1986-34, passed 6-16-86)