(a) The Finance Director is hereby authorized to accept prepayment of any special assessment installments levied by the Municipality payable over a period of more than one year, all in accordance with Ohio R.C. 5719.16. Such prepayment shall be in cash and pertain to all remaining installments of any such special assessments or reassessments levied by the Municipality as a lien upon any lot or parcel of land and which installments are not yet due. Such prepayment shall include the payment of interest if such be chargeable in accordance with the terms of original funding for such improvement whether the same is done by notes or bonds. Interest shall be chargeable and not refundable up to the time of full redemption and satisfaction of the original funded obligation and shall be chargeable without penalty to the Municipality for its prepayment of original funding or without forfeiture of interest amounts prepaid hereunder.
(b) The Director of Finance is hereby authorized and directed upon receiving such prepayment of installments as are mentioned in subsection (a) hereof to certify such fact to the County Auditor who shall thereupon cancel such installments as a lien upon his records.
(Res. 41-1964. Passed 4-14-64.)