(A) The option to defer the payment of special assessments shall terminate and all amounts accumulated plus applicable interest shall become due upon the occurrence of any one of the following events:
(1) The death of the owner when there is no spouse who is eligible for deferment;
(2) The sale, transfer or subdivision of all or any part of the property;
(3) Loss of homestead status on the property;
(4) The city determines the owner or owner’s spouse no longer qualifies for the deferral;
(5) The city determines that there would be no hardship to require immediate or partial payment; or
(6) Failure to file a renewal application within the time prescribed by § 93.70.
(B) Upon the occurrence of one of the events specified in this section, the Council shall terminate the deferment. Thereupon, the City Clerk shall notify the County Assessor and the County Auditor of the termination, including the amounts accumulated on unpaid installments plus applicable interest which shall become due and payable as a result of the termination.
(Ord. 2021-10-1, passed 10-12-2021)