(a) Where Assessment is Issued. Every proceeding instituted by the Director of Finance for the collection of the amount found to be due under an assessment which has become final of any tax, additions to tax, penalties or interest imposed by this article, irrespective of whether such proceeding is instituted in a court or by utilization of other methods provided by law for the collection of such tax, additions to tax, penalty or interest, shall be brought or commenced within five years after the date on which such assessment has become final.
(b) Exception as to False or Fraudulent Return; No Return. In the case of the filing of a false or fraudulent return, or in case no return is filed, the limitations specified in this section shall not apply.
(c) Extension of Time of Collection Proceedings. The Director and the taxpayer may enter into written agreement to extend the period within which the Director may institute proceedings for the collection of the amount found to be due under an assessment which has become final, additions to tax, penalties or interest imposed by this article. Such period shall not exceed two years. The period so agreed upon may be extended for additional periods not in excess of two years each by subsequent agreements in writing made before the expiration of the period previously agreed upon.
(Ord. 0-604. Passed 8-28-90.)