Special assessments for any improvement under this chapter shall be payable in annual installments pursuant to one or more payment schedules as authorized by City Council in the resolution of necessity or in the final assessment ordinance. The number of annual installments of any assessment shall not exceed twenty (20) and the number of annual installments of assessments shall not exceed the maximum maturity for which securities could be issued in anticipation of the project. If no period of maximum maturity is so specified, then the period for which assessments shall be levied, shall not be less than one (1) year, but may not exceed the estimated life of the usefulness of the improvement as certified by the fiscal officer of the City of Maumee.
Special assessments shall be payable by the owners of the property assessed at the time stipulated in the ordinance and shall be a lien from the date of the assessment upon the respective lots and parcels of land assessed, enforceable in the manner provided by general law.
(Ord. 007-2023. Passed 2-6-23.)