§ 52.34. Postponement of Payment.

If a property owner is determined to have a financial hardship, then Council may approve the postponement of the special assessment payments as follows:

(A)

A lien for the maximum assessment amount will be recorded against the property.

(B)

Payments on the assessment amount will be suspended until there is a change of ownership of the property or there is a some other change of circumstance of the property owner which would no longer qualify the property owner as having a financial hardship. It is the responsibility of the property owner to notify the City of any such change in circumstances.

(C)

The hardship postponement is only for the life of the approved property owner, absent an occurrence described in (B) above.

(D)

Interest on the assessment will continue to accrue throughout the postponement as it would otherwise.

(Ord. of 4-26-1999, § 6, Doc. #29102-1)