§ 40-11. Creation of lien; when due; installment payments.

(a) 

All special assessments contained in any special assessment roll, including any part thereof to be paid in installments, shall, from the date of confirmation of such roll, constitute a lien upon the respective lots or parcels of land assessed and until paid shall be a charge against the respective owners of the several lots and parcels of land and a debt to the City from the persons to whom they are assessed. Such lien shall be of the same character and effect as the lien created by the Charter for City taxes and shall include accrued interest and fees. No judgment or decree nor act of the Council vacating a special assessment shall destroy or impair the lien of the City upon the premises assessed for such amount of the assessment as may be equitably charged against the premises or as, by a regular mode of proceeding, might be lawfully assessed thereon.

(b) 

All special assessments shall become due upon confirmation of the special assessment roll or in annual installments, not to exceed 20 in number, as the Council may determine at the time of confirmation. If in annual installments, the Council may determine the first installment to be due upon confirmation or upon any other date the Council may prescribe and the subsequent installments annually thereafter. Deferred installments shall bear interest at such rate as the Council may prescribe.

Code 1975, § 28-11; Code 1992, § 24-11