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The City may bid and purchase any real or personal property offered for sale for the nonpayment of any improvement assessment levied and assessed under any of the provisions of this part, or of any installment thereof, or penalties or costs or interest thereon, or any suit brought to foreclosure such assessment.
(Added by Ord. 225-81, App. 5/5/81)
Whenever any property shall have been acquired by the City at any such sale, then such property, or any lien thereon or interest therein created by such assessment, may be released, assigned, sold or otherwise disposed of by City as it shall determine; provided, however, that no such release, assignment, sale or other disposition of any such lien or interest, or of any such property, shall be made unless there shall be first paid to City a sum of money equal to, and not less than the amount paid therefor by City, together with all accrued penalties, costs, interest, and necessary expenses incurred; provided, further, that if any lien or interest, or property, cannot, as determined by the Board, be sold for the amounts or charges computed as herein provided, then the Board may by 4/5 vote of all its members, sell any such lien or interest or property for the best price obtainable according to its judgment; provided, further, that the Board may determine by such 4/5 vote that the public interest would best be served by the sale of such property for a particular use, in which event the consideration therefor shall be as deemed appropriate by the Board.
(Added by Ord. 225-81, App. 5/5/81)
The Board may declare in the resolution of intention or by separate resolution subsequently adopted that the City intends to advance the entire cost of the project from available funds without issuance of bonds. In such event, the City shall pay all project costs as they accrue, and shall succeed to all rights under the assessment and to all rights which would have accrued under the bonds had they been issued.
(Added by Ord. 225-81, App. 5/5/81)
The assessment and diagram and/or warrant shall be recorded as in other cases and notice to pay assessments given in the time and manner provided herein. Such notices shall provide in substance that the assessment may be paid in cash in whole or in part at any time prior to the notice hereinafter mentioned in Section 250.080, but that the amount unpaid as of July 1st of each year following the recordation of the assessment will be increased by a penalty of 10 percent.
(Added by Ord. 225-81, App. 5/5/81)
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