A.   Payment Of Assessments: The payment of assessments to defray the cost of construction or replacement of sidewalks shall be spread over a term of five (5) years unless the city council shall order the payments to be spread over a different term, such term in no event to exceed eight (8) years. All payments shall be made in equal annual installments, and payments of interest at a rate of six percent (6%) per annum shall be made on January 1 of each year.
   B.   Resolution Levying Assessments: The city council shall annually, before the first Monday of October, pass and adopt a resolution levying an assessment and tax against each lot or parcel of land in front of which sidewalks, foot pavements, curbs and gutters, or any combination thereof, have been maintained or repaired under order of the city council. Said resolution levying such assessment shall be in every manner prepared and certified the same as resolutions levying assessments for the making of improvements in special improvement districts.
   C.   Collection Of Assessments: The treasurer of the city, or the county treasurer, as the case may be, shall collect a special assessment or tax levied by the city council under the provisions of this chapter, with interest as herein provided, and such interest shall run from the date the assessment is levied. The city treasurer shall at any time permit the owner of any property assessed for sidewalk construction or replacement to pay the cost and expenses of such construction, with interest to the date of payment.
   D.   Assessment To Be A Lien On Property: The cost and expenses of sidewalk construction or replacement shall be a lien upon the abutting property, and when any one of the payments assessed and levied by the council shall become delinquent, the property against which the same is levied and assessed shall be sold by the treasurer in the same manner as the sale of property for nonpayment of assessments and levies for the making of improvements in special improvement districts. (Ord. 416, 1-3-1994)