Ordinance No. 85-12 CITY OF TIGARD, OREGON
ORDINANCE NO. 85-�
AN ORDINANCE AMENDING THE TIGARD MUNICIPAL CODE CHAPTER 13.04.087 (Ord, 84-55).
WHEREAS, the ligand City Council W19iiC5 t.., allow �.........P..
accounts when property changes hands,
THE CITY OF TIGARD ORDAINS AS FOLLOWS:
Section 1. The Tigard Municipal Code Chapter 13.04.087 Assessment balance due
upon sale, the division of land or transfer of property from one owner to
another be amended to read as follows: Assessments against property are
allowed to be paid in installments by the owner of the property at ti,G time of
the assessment (ORS 223.210) , Whenever the owner of proporty changes through
the sale or- transfer of land, or the division of land; the total assessment
balance plus interest [becomes due and payable at once.] may be _assumed
sub'ect to the following conditions: —
There will be no assumption on anv Bancroft less than $3,_000,00. An
assumptian fee of 50.00 will be charged. Fees for res.ordin the lien and the
release of the lien will also be charged. There will be na assumption, if
Bancroft is on vacant land that is being parceled for residential or
commercial development. There will be no assure tion. if 'there is a history of
slow- ayment* on other debt to the City by the buyer of the property.
Slow-payment as defined by Dun 6 Bradstreet to mean _ payment oven 30 dais
delinquent.
ASSUMPTION CRITERIA FOR BANCROFT ASSESSMENTS PRIOR TO JANUARY 1, 1984
s, assumptions will be at current bond selling interest rate allowed by ORS
X88.5?1? which is 13% unless no bidders then 14%. 13% would be the rate used.
+ ASSUMPTION CRITERIA FOR BANCROFT ASSESSMENTS AFTER_ JANUARY 1. 1984
5
Assumptions will be at the rate charmed t.o the owner of the propertv at time
of assessment.
PASSED: By r vote of all Council mer^bers prase t after
being re- by number and title only, this day
of _ 1985,
Deputy City Recorder City of Tigard
APPROVED: This �._ dal of �'� � 1985.
ayor• - City of Tigan
(0941F) r
ORDINANCE lNO. 85-2 ..
Pace 1