§ 151.44 FINANCING.
   (A)   Property owners shall be responsible for the construction and maintenance of sidewalks located on their property or on the right-of-way adjacent to their property and the streets of said town. If approved by the Town Council, the property owner and town may enter an agreement whereby the town shall cause the sidewalk to be built or repaired and the cost of same shall be paid by the property owner with interest in five installments over a four-year period. Such agreement shall provide for a lien in the name of the town and the required performance between the parties.
   (B)   Effective 1-1-1997 all unpaid assessments for the construction of sidewalks in the town shall bear interest at the rate of 5.5% per annum on the unpaid balance. All parties to whom said assessments have been made shall be responsible on each annual payment date for paying all interest which has accrued to such date.
   (C)   Any payments which are not made when due shall, pursuant to I.C. 36-9-37-20 result in all balances due and owing, plus interest, become due immediately, and pursuant to I.C. 36-9-37-20 all delinquencies, penalties and interest, as provided at I.C. 36-9-37-1 et seq., shall follow and proper notice be recorded as a lien in the proper office of the county and said lien shall be enforced and collected by the County Treasurer in the same way that delinquent property taxes are collected.
(2013 Code, Title V, Ch. 1, § 5) (Ord. III-A-3-a/1992-7-27, passed 7-27-1992; Ord. III-A-3-a(1), passed 8-12-1996; Ord. 2011-4-25(A), passed 4-25-2011)