§ 19.20.280. Early payoff of assessment.

A.

An entire special assessment may be prepaid without interest or penalty only until such date or during such period as the assembly provides by ordinance or resolution. Thereafter, the assessment may be prepaid in whole or in part at any time with accrued interest to the date of payment unless the assembly provides otherwise by ordinance or resolution. Payments for less than the total amount of the bill will be applied to charges first to delinquent amounts and then to amounts not delinquent in the following order:

1.

For delinquent amounts: special costs, delinquent interest, penalty, bond interest, interim interest, principal.

2.

For amounts that are not delinquent: special costs, delinquent interest, penalty, bond interest, interim interest, principal.

B.

Assessments levied prior to March 1, 1964, which are paid in full, shall be discounted in accordance with the discount schedule in effect at the time the assessment was levied.

(CAC 3.08.471; AO No. 81-6; AO No. 88-45; AO No. 91-101)