A. In the enactment of an ordinance providing for the assessing of the liens against said lots, parts of lots and parcels of land, such ordinance shall specifically direct the City Recorder to enter in the lien docket of the city a statement of the respective amounts of benefits assessed upon each lot, part of lot or parcel of land benefited by such improvement, together with the names of the owners thereof, and upon such entry in the lien docket the amount so entered shall be a lien and a charge upon the respective lots, parts of lots and parcels of land against which the same are pledged. Such liens shall be first and prior to all other liens that the laws of the state will allow them to be, against such property.

B. The property owners benefited by such improvement, within the time required by the Charter of the city, (twenty days after the same is entered in the lien docket), or such additional time as may be permitted by the Council, shall pay such liens in full, or shall make application under the Bancroft Bonding Act of the state, or shall make application for alternate financing through the special revolving fund set up in Section 3.16.020, and the city may proceed to foreclose any such liens other than a bonded lien under the Bancroft Bonding Act of the state, twenty days after the same have been entered in the lien docket if arrangements satisfactory to the city have not been made for the payment thereof either by cash payment or by application for financing under this chapter; or if the assessment so financed has become delinquent, whether or not previous payments have been made, and such liens may be foreclosed under Title V, Chapter 9, O.C.L.A. (ORS 88.010 – 88.100, 93.720, 93.760, 408.440) as now or hereafter amended, or as may be otherwise provided by the charter and ordinances of the city for the foreclosure of liens entered upon the lien dockets of the city.

C. The owners against whom liens are assessed under this chapter may make arrangements satisfactory to the city to pay such liens in accordance with the plan of the city herein set out; such owner shall make application for payment of such lien upon a form to be provided by the City Recorder for such application; provided, however, that in no case shall the alternate financing herein provided be larger in amount than the owner could have financed under the provisions of the Bancroft Bonding Act; and provided further, that no such lien shall be paid off in more then six semiannual installments. The city may prescribe a smaller number of equal semiannual installments for the retirement of such liens if the Council deems such shorter period proper, necessary or convenient in the premises. But nothing herein contained shall prevent the owner from paying off all or any part of such lien at any time together with interest to the date of such payment.

D. It is a special limitation under this chapter that the city may in no event have outstanding upon its general lien docket unpaid liens financed through such special revolving fund, payable in installments as provided herein, together with interest accruing thereon, in excess of the sum of sixty thousand dollars (but this provision shall have no effect with relation to the bonded lien docket of the city). Should there be such unpaid liens accruing interest upon the same in excess of the sum of sixty thousand dollars, the city may not permit further liens to be created under this chapter or financed through such special revolving fund. (Ord. 1478, 1980; Ord. 1151, 1962; Ord. 956, 1952)