§ 9.41. General deferments of special assessments.

(1)

Undeveloped lands. The due date of any special assessments levied against property abutting or benefitted by public improvement may be deferred for sanitary sewers, storm sewers, or watermains when the assessments are levied against undeveloped land.

(a)

Undeveloped land is land that has no residential, commercial, or industrial development.

(b)

Deferments may only be granted for assessments levied against property which is part of a recorded plat or certified survey, if the Council determines that such deferment is in the best interest of the City.

(c)

Deferments may be granted for street improvement assessments if the property subject to the levy is determined by the council to be unbuildable due to inadequate size or area for development or an elevation preventing reasonable access to the proposed improvement.

(d)

When a deferred assessment, granted after May 20, 1997, is paid, the amount due will be calculated based on the assessment rates in effect at the time payment is made.

(2)

Installment payments. Such special assessment may be paid in installments within the time prescribed by the common council, following the termination of the deferment.

(3)

Interest. Interest may be charged during the deferment period and/or the installment period. The interest rate for all city building projects for unpaid special assessments shall be reviewed annually and shall be established, and from time to time amended, by resolution of the common council.

(Ord. No. 27-98)