48-2067. Certification of unpaid assessments;
payments by installment; interest; payments in advance
A. The board, at the time it certifies the list of unpaid assessments, shall write
the word "certified" on the record of the assessment opposite each unpaid assessment
included in the list, and all assessments of twenty-five dollars or more cease to be
payable in cash and are thereafter payable only in equal annual installments on January 1
of each year in which the bonds become due. The board may provide a plan by which the
annual installment plus an additional over levy as determined by the board to cover the
anticipated delinquencies in the collection of the assessment may be collected in partial
payments before the installment is due, and the lien of each assessment on the property
assessed is valid for two years after the last installment on the assessment becomes due,
or until the assessment is fully paid.
B. An uncollected installment shall be added to the succeeding installment and
paid, together with interest and penalties.
C. The number of installments in which the assessment is payable shall correspond
to the number of years in which there are bonds to be paid. The total number of
installments shall not exceed twenty-five.
D. All assessments of twenty-five dollars or more not paid before the certification
of the list of unpaid assessments bear interest from the date of the warrant at the same
rate as that specified for the bonds in the resolution of intention. The interest is
payable on July 1 and January 1 of each year, immediately before the interest becomes due
on the bonds. The board may provide a plan by which the interest is collected in partial
payments before the date it becomes due.
E. The board may provide for receiving payment of the installments of the
assessments before they become due and may use the proceeds to redeem the bonds presented
for redemption by the bond owners or invest the proceeds in improvement bonds for other
work or other satisfactory investment. No investment of these monies may be made so as
to prejudice the prompt payment of the bonds on the date they become due.
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