The city may remove or raze any hazardous building upon obtaining the consent in writing of all owners of record, occupying tenants and all lien holders of record; the cost of the removal or razing shall be levied and collected as a special assessment in the manner provided for under law, except that the city may provide that the costs so assessed may be paid in not to exceed five equal installments with interest thereon, at 8% per annum, in accordance with M.S. § 463.151, as it may be amended from time to time.
(`86 Code, § 8.02)