[Adopted 12-7-1971 by Ord. No. 114 (Ch. 21, Part 1A, of the
1981 Code of Ordinances)]
[Amended 4-13-1981 by Ord. No. 235]
The Council hereby adopts the policy of permitting assessments
for street, sewer, curbing and sidewalk improvements to be paid on
an installment basis.
[Amended 4-13-1981 by Ord. No. 235]
Payments shall be made over a period of five years or at such
earlier time or period as the Council and the property owner who is
assessed otherwise decide by agreement.
Equal payments shall be made on a monthly basis with each installment
bearing interest at the current CPI-U rate at the time the assessment
is made, not to exceed 6%.
The Township in authorizing payments in installments does not
release or relinquish any of its rights to file appropriate municipal
liens or to obtain payment and all other costs and charges to which
it may be entitled under the Home Rule Charter in the event that a
property owner defaults in an installment payment.
For purposes of this article, a "default" shall not exist unless
or until a period of 60 days has elapsed from the date on which the
last installment payment is due and owing.
[Amended 4-13-1981 by Ord. No. 235]
The five-year period of payment referred to in § 376-2 is the maximum period authorized under this article and may be shortened or modified by the Council in instances where a consideration of the assessment involved indicates that a shorter time period is more appropriate. In the event that the time for payment is shortened, other than by agreement between the property owner involved and the Township, such action may be taken by motion or resolution at a regularly scheduled Council meeting.
