Special assessment payments deferred pursuant to the eligibility requirements set forth by this subchapter shall become payable effective upon the occurrence of one of the following events:
(A) Sale of property. The subject property is sold, transferred, subdivided or in any way conveyed to another by the fee owner qualified for deferral status;
(B) Death of owner. The death of the fee owner qualified for deferral status unless a surviving joint tenant, tenant in common or contract vendee is eligible for the deferral benefit provided hereunder;
(C) Non-homestead property. The subject property loses its homestead status for any reason; or
(D) No hardship. The City Council determines that there would be no hardship to require an immediate or partial payment of the deferred special assessment.
(Ord. 72, passed 10-15-2003)