A. One general proceeding shall be brought on the part of the city to foreclose the tax liens against each of the properties included in the foreclosure list. Foreclosure proceedings shall be in accordance with law. A certified copy of the judgment of the superior court shall constitute a certificate of sale to the city of the several properties described in the judgment and decree.
B. Period during which property held by the city; redemption; assessment during redemption period; redemption of part of property. All real properties sold to the city pursuant to law shall be held by the city for the period of one year from and after the date of the judgment and decree of foreclosure, unless sooner redeemed. During the one-year period, any person having an interest in the property at the date of the judgment and decree of foreclosure, or any heir or designee of such person, or any person holding a lien of record on the property under the judgment and decree, may redeem the property, with interest thereon as provided by law, and any costs charged against such property. Property so redeemed shall be subject to assessment for taxation during the period of redemption as though it had continued in private ownership. Any person holding a mortgage or other lien of record covering a part only of a particular parcel of real property included in the judgment and decree of foreclosure may redeem such part by payment of the proportionate amount applicable thereto under the judgment and decree.
C. Notice of expiration of redemption period. Not less than 30 days prior to the expiration of the period of redemption of any real property ordered sold to the city under a judgment and decree as provided herein, the clerk shall post a general notice relative to the expiration of the period of redemption. The notice shall contain the date of the judgment and decree, the date of expiration of the period of redemption, and warning to the effect that all properties ordered sold under the judgment and decree, unless sooner redeemed, will be deeded to the city immediately on expiration of the period of redemption and that every right or interest of any person in the properties will be forfeited forever to the city. The notice shall be posted in three public places for four weeks.
D. Deed to city. Upon filing proof of posting of notice of expiration of redemption period as a part of the foreclosure proceedings, the properties not redeemed with the one-year period prescribed herein shall be deeded to the city by the clerk of the court. All right of redemption, with respect to the real properties therein described, shall terminate on the execution of the deed to the district as required.
E. Title to the city; title of purchaser on resale. When the city acquires real property under foreclosure procedures, the conveyance vests in the city title to the property, free from all liens and encumbrances except unpaid taxes and assessments duly levied for local improvements to the property, and liens of the United States and the State of Alaska. (Ord. 77-01 (part), 1977)