§ 160A‑233. Enforcement of assessments; interests; foreclosure; limitations.
(a) Any portion of an assessment that is not paid within 30 daysafter publication of the notice that the assessment roll has been confirmedshall bear interest until paid at a rate to be fixed in the assessmentresolution but not more than eight percent (8%) per annum.
(b) If any installment of an assessment is not paid on or beforethe due date, all of the installments remaining unpaid shall immediately becomedue and payable, unless the council waives acceleration. The council may waiveacceleration and permit the property owner to pay all installments in arrearstogether with interest due thereon and the cost to the city of attempting toobtain payment. If this is done, the remaining installments shall be reinstatedso that they fall due as if there had been no default. Waiver of accelerationand reinstatement of future installments may be done at any time beforeforeclosure proceedings have been instituted.
(c) Assessment liens may be foreclosed under any procedureprescribed by law for the foreclosure of property tax liens, except that liensales and lien sale certificates shall not be required, and foreclosure may bebegun at any time after 30 days after the due date. The city shall not beentitled to a deficiency judgment in an action to foreclose an assessment lien.The lien of special assessments shall be inferior to all prior and subsequentliens for State, local, and federal taxes, and superior to all other liens.
(d) No city may maintain an action or proceeding to enforce anyremedy for the foreclosure of special assessment liens unless the action orproceeding is begun within 10 years from the date that the assessment or theearliest installment thereof included in the action or proceeding became due.Acceleration of installments under subsection (b) shall not have the effect ofshortening the time within which foreclosure may be begun, but in that eventthe statute of limitations shall continue to run as to each installment as ifacceleration had not occurred. (1915, c. 56, s. 11; C.S., s. 2717; 1923, c. 87; 1929, c. 331, s. 1;1971, c. 698, s. 1.)
§ 160A‑233. Enforcement of assessments; interests; foreclosure; limitations.
(a) Any portion of an assessment that is not paid within 30 daysafter publication of the notice that the assessment roll has been confirmedshall bear interest until paid at a rate to be fixed in the assessmentresolution but not more than eight percent (8%) per annum.
(b) If any installment of an assessment is not paid on or beforethe due date, all of the installments remaining unpaid shall immediately becomedue and payable, unless the council waives acceleration. The council may waiveacceleration and permit the property owner to pay all installments in arrearstogether with interest due thereon and the cost to the city of attempting toobtain payment. If this is done, the remaining installments shall be reinstatedso that they fall due as if there had been no default. Waiver of accelerationand reinstatement of future installments may be done at any time beforeforeclosure proceedings have been instituted.
(c) Assessment liens may be foreclosed under any procedureprescribed by law for the foreclosure of property tax liens, except that liensales and lien sale certificates shall not be required, and foreclosure may bebegun at any time after 30 days after the due date. The city shall not beentitled to a deficiency judgment in an action to foreclose an assessment lien.The lien of special assessments shall be inferior to all prior and subsequentliens for State, local, and federal taxes, and superior to all other liens.
(d) No city may maintain an action or proceeding to enforce anyremedy for the foreclosure of special assessment liens unless the action orproceeding is begun within 10 years from the date that the assessment or theearliest installment thereof included in the action or proceeding became due.Acceleration of installments under subsection (b) shall not have the effect ofshortening the time within which foreclosure may be begun, but in that eventthe statute of limitations shall continue to run as to each installment as ifacceleration had not occurred. (1915, c. 56, s. 11; C.S., s. 2717; 1923, c. 87; 1929, c. 331, s. 1;1971, c. 698, s. 1.)
§ 160A‑233. Enforcement of assessments; interests; foreclosure; limitations.
(a) Any portion of an assessment that is not paid within 30 daysafter publication of the notice that the assessment roll has been confirmedshall bear interest until paid at a rate to be fixed in the assessmentresolution but not more than eight percent (8%) per annum.
(b) If any installment of an assessment is not paid on or beforethe due date, all of the installments remaining unpaid shall immediately becomedue and payable, unless the council waives acceleration. The council may waiveacceleration and permit the property owner to pay all installments in arrearstogether with interest due thereon and the cost to the city of attempting toobtain payment. If this is done, the remaining installments shall be reinstatedso that they fall due as if there had been no default. Waiver of accelerationand reinstatement of future installments may be done at any time beforeforeclosure proceedings have been instituted.
(c) Assessment liens may be foreclosed under any procedureprescribed by law for the foreclosure of property tax liens, except that liensales and lien sale certificates shall not be required, and foreclosure may bebegun at any time after 30 days after the due date. The city shall not beentitled to a deficiency judgment in an action to foreclose an assessment lien.The lien of special assessments shall be inferior to all prior and subsequentliens for State, local, and federal taxes, and superior to all other liens.
(d) No city may maintain an action or proceeding to enforce anyremedy for the foreclosure of special assessment liens unless the action orproceeding is begun within 10 years from the date that the assessment or theearliest installment thereof included in the action or proceeding became due.Acceleration of installments under subsection (b) shall not have the effect ofshortening the time within which foreclosure may be begun, but in that eventthe statute of limitations shall continue to run as to each installment as ifacceleration had not occurred. (1915, c. 56, s. 11; C.S., s. 2717; 1923, c. 87; 1929, c. 331, s. 1;1971, c. 698, s. 1.)
