(A) The owner of the parcel of land subject to a system development charge of over $10,000 may apply for payment in installments, to include interest at the legal rate of 10% on the unpaid balance, in accordance with O.R.S. 223.208. Payment may be over a period of less than ten years, if so elected by the property owner. Otherwise, system development charges are payable over a period of ten years, in accordance with the terms as set by the city.
(B) The City Administrator shall provide application forms for installment payments, which shall include a waiver of all rights to contest the validity of the lien, except for the correction of computational errors.
(C) An applicant for installment payments shall have the burden of demonstrating the applicant’s authority to assent to the imposition of a lien on the parcel and that the property interest of the applicant is adequate to secure payment of the lien.
(D) The City Administrator shall report to the City Recorder the amount of the system development charge, the dates on which payments are due, the name of the owner and the description of the parcel.
(E) The City Recorder shall docket the lien in the lien docket. From that time, the city shall have a lien upon the described parcel for the amount of the system development charge, together with interest on the unpaid balance at the rate established by the Council. The lien shall be enforceable in the manner provided in O.R.S. Chapter 223.
(F) Upon written request of the City Administrator, the City Recorder is authorized to cancel assessments of system development charges, without further Council action, where the new development approved by the building permit is not constructed and the building permit is cancelled.
(G) For property that has been subject to a cancellation of assessed system development charges, any future installment payment contract shall be subject to the code provisions applicable to system development charges and installment payment contracts on file on the date the new contract is received by the city.
(Ord. 500, passed 4-10-2006)