The Council may provide for the payment of special assessments in annual installments. The annual installments shall be determined by the Village Council but shall not exceed those authorized by law, the first installment being due upon confirmation of the roll and at any other times as shall be specified by Council. Subsequent installments shall be due on the anniversary of the first installment. On all special assessments confirmed between January 1 and June 30 of any year, the second installment shall be due July 1 of the following year and the remaining installments shall be due July 1 of each succeeding year. Interest shall be charged on all deferred installments. At a rate not to exceed 6% per annum, commencing on confirmation and payable on the due date of each installment; the full amount of all or any deferred installments, with interest accured thereon to the date of payment, may be paid in advance of the due dates thereof. Each property owner shall have at least 60 days from the date of confirmation to pay the full amount of the assessment or the full amount of any installments thereof, without interest or penalty. Following the 60-day period, the assessment or first installment thereof shall, if unpaid, be considered as delinquent, and the same penalties shall be collected on the unpaid assessments, or unpaid first installments thereof, as are provided by law to be collected on delinquent general village taxes. After the Council has confirmed the roll, the Village Treasurer shall notify by mail each property owner on the roll that the roll has been filed, stating the amount assessed and the terms of payment. Failure on the part of the Village Treasurer to give the notice or of the owner to receive the notice, shall not invalidate any special assessment roll on the village or any assessment thereon, nor excuse the payment of interest or penalties.
(Ord. 93, passed 5-2-1983)