§ 12.04.120. Notice of assessment; bonding.

(A)

Within ten days after the ordinance levying assessments has been passed, the City Recorder shall send by registered mail, to his or her last known address, a notice of assessment to the record owner and, so far as readily known, to the owner as herein defined, of each lot, tract or parcel of land assessed.

(B)

This notice shall state the time within which such assessments must be paid or bonded and that assessments which are not paid or bonded within the time stated in the notice shall bear interest at the rate set by the Council and that the property so assessed is subject to foreclosure if such assessments are not paid or bonded within the time stated in the notice.

(C)

Such record owner or other owner as defined in this chapter may make application to bond such assessment pursuant to the provisions of ORS 223.205 to, and including, 223.295, which is known as the "Bancroft Bonding Act," together with amendments.

(Code 1981, § 12.04.120; Ord. No. 28, 5-1961; Ord. No. 283, 11-23-1982)