(A) After expiration of the time for filing the application for installment payment of assessment, the City Recorder shall enter in a docket kept for that purpose a description of each lot or part of lot or parcel of land, or other property against which the assessment is made, bears or is chargeable, for the cost of the improvement, with the name of the owner and the amount of the unpaid assessment. This docket shall stand thereafter as a lien docket for costs assessed and levied in favor of the city on the unpaid assessments at the current rate of interest for commercial loans or the rate of bond sale, whichever is deemed appropriate by the City Council against each lot or parcel of land or other property, until the assessment and interest are paid.
(B) All unpaid assessments and interest are a lien on each lot or parcel of land or other property, respectively, in favor of the city and shall have priority over all other liens, to the extent allowed by law, and encumbrances whatsoever, and shall be payable semiannually for ten successive years, unless otherwise prescribed by the Council, to the city by the owner of each lot, part of lot or parcel of land assessed for the public improvement whose application to pay the assessments of the improvement has been filed as herein provided. The first payment shall be due and payable at the expiration of six months from the date of the assessment in the public works lien docket, and subsequent payments and like amounts at the expiration of each semi-annual period thereafter.
(Prior Code, § 35.107) (Ord. 1157, passed 9-7-1999)