Laserfiche WebLink
contained in City Code section 30-96, et seq., shall have the <br />• right, if they so choose, to postpone payment of the assessment <br />hereby created until the sale of the subject property or the death <br />of the last eligible owner, whichever first occurs. The interest <br />rate on such assessment, if an eligible owner chooses postponement, <br />shall not begin accruing on the unpaid balance until after the date <br />on which the entire assessment is due and owing. <br />SECTION 7. The amount of each such assessment with applicable <br />penalties or interest shall constitute a lien on the property <br />against which it is levied until paid in full. The City Attorney <br />is hereby authorized and directed to record a copy of this <br />ordinance in the judgment lien docket of the Clerk's Office of the <br />Circuit Court as provided by § 15.1-247 of the Code of Virginia, to <br />perfect such liens. <br />SECTION 8. If any part, section, clause or phrase of this <br />ordinance, or any individual assessment levied hereby, is declared <br />to be unconstitutional or invalid for any reason, such decision <br />shall not affect the validity of any other portion hereof. <br />SECTION 9. This ordinance shall be effective immediately upon <br />its adoption. <br />• [The applicable Treasury Bill rate is 5.18%] <br />Approved by Council <br />June 20, 1994 <br />rk of City Council <br />40 3 <br />