The Council may provide for the payment of special assessments in installments. Such installments shall not exceed twenty in number, the first installment being due upon confirmation of the roll or on such date as the Council may determine and the deferred installments shall be due annually thereafter, or, in the discretion of the Council, shall be due annually on such other date as the Council may fix or may be spread upon and made a part of each annual City tax roll thereafter until all are paid. Interest shall be charged on all deferred installments at a rate not to exceed seven percent per annum or such higher rate of interest as may be permitted by the general laws of the State of Michigan, commencing on such date on or after confirmation as may be fixed by the Council and payable with each installment. The full amount of all or any deferred installments, with interest accrued thereon to the date of payment, may be paid in advance of the due dates thereof. If the full assessment or the first installment thereof shall be due upon confirmation, each property owner shall have sixty days from the date of confirmation to pay the full amount of said assessment or the full amount of any installments thereof, without interest or penalty. Following said sixty-day period, the assessment or first installment thereof shall, if unpaid, be considered as delinquent and the same penalties shall be collected on such unpaid assessments or first installments thereof as are provided by law to be collected on delinquent general City taxes. Deferred installments shall be collected without penalty until sixty days after the due date thereof, after which time such installments shall be considered as delinquent and such penalties on said installments shall be collected as are provided by law to be collected on delinquent general City taxes. After the Council has confirmed the roll, the City Treasurer shall notify by mail each property owner on said roll that said roll has been filed, stating the amount assessed and the terms of payment. Failure on the part of the City Treasurer to give said notice or of such owner to receive said notice shall not invalidate any special assessment roll of the City or any assessment thereon, nor excuse the payment of interest or penalties.
(Ord. 368. Passed 3-27-95.)