(A) An owner of property obligated to pay a system development charge in an amount exceeding $2,500 may apply to pay the charge in semiannual installments over a period not to exceed ten years, but will pay minimum semiannual installments of not less than $1,250. Installments shall include interest on the unpaid balance at the rate equal to 3% per annum above the prime rate of interest quoted by the Wall Street Journal as of January 2 of the year in which the charge is imposed, in accordance with O.R.S. Chapter 223.
(B) The City Recorder shall provide application forms for installment payments, which shall include a waiver of all rights to contest the validity of the lien, except for the correction of computational errors.
(C) An applicant for installment payments shall have the burden of demonstrating the applicant’s authority to assent to the imposition of a lien on the parcel and that applicant’s property interest in the parcel is adequate to secure payment of the lien.
(D) The City Recorder shall report to the City Council the amount of the system development charge, the dates on which payments are due, the name of the owner, and the description of the parcel.
(E) The City Recorder shall docket the lien. From the time the lien is docketed, the city shall have a lien upon the described parcel for the amount of the system development charge, together with interest on the unpaid balance at a rate established by the City Council via resolution. The lien shall be enforceable in the manner provided in O.R.S. Chapter 223.
(F) Upon written request of the City Council, the City Recorder is authorized to cancel assessments of system development charges, without further City Council action, where a new development approved by a building permit is not constructed and the building permit is cancelled. Any system development charges paid to the city pursuant to the cancelled permit shall be refunded upon request of the applicant. Such refund will be in the amount paid at the time of the payment to the city, unadjusted for inflation.
(Ord. 2021-02, passed 3-22-2021)