HomeMy WebLinkAboutORDINANCE 0314-1976CITY OF KENAI
ORDINANCE NO. 314-76
AN ORDINANCE OF THE COUNCIL OF THE CITY OF RENAl CLARIFYING THE STATUS
OF SPECIAL DEFERRED ASSESSMENTS IN CERTAIN WATI~R AND SEWER IMPROVEMENT
DISTRICTS.
WHEREAS, Ordinance 234-73 creating Sewer Improvement District 73-82,
Resolution 74-4 creating Water Improvement Dist~ct No. 8, Resolution No. 74-5
creating Water Improvement District 73-W1, Resolution lgo. 74-6 creating Water
Improvement District 73-W2, Resolution No. 74-9 creating Water Improvement District
73-W5, Resolution 74-10 creating Sewer Improvement District 7S-S1 contain a provision
reading as follows:
So much of parcels of benefitted land with front~e in excess of 330 ft.
on this district, held aa an unsubdivided parcel, may have payments
deferred on assessments until such parcel or parcels are subdivided.
WHEREAS, such provisions do not clearly delineate how and wh~-n such special
deferred payments are to be made, and
WHEREAS, it is the intent of the Council to establish a policy with regard to special
deferred payments in the above-named districts.
NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Kenai, Alaska
as follows:
Section 1: Section 5 (E) of Resolutions 74-1, 74-5, 74-6, 74-9 and 74-10
and Section 4(E) of Ordinance 234-73 are and each of them is hm'eby amended to
read in their entirety as follows:
E. Parcels of benefitted land in this district with frontage
in excess of 330 feet may have that portion of their assessment payments
attributable to the excess of 330 feet deferred until such parcel is sold
or subdivided. If any payments are deferred, they shall be handled in the
following manner:
a. The total special deferred assessment shall be set up in
installments over the life of the district in the same manner as assessments
which have not been deferred. Such schedule of installments is hereinafter
referred to as the ~Installment schedule". The sum of the principal and
interest of each payment shall be hereinafter referred to as the "annual
installment". The dates upon which payments are due in accordance with the
installment schedule are hereinafter referred to as the "schedule due dates".
16 - Page Two
ORDINANCE NO. 31
b. No annual installment on special deferred assessments shall be
due until the parcel is subdivided or title to the parcel is transferred. A
parcel shall be deemed subdivided when the subdivision plat ia duly recorded
with the Kenai District Rscorder in accordance with statute. The title to B
parcel shall be deemed to have been transferred when the instrument evidencing
transfer of title is duly recorded with the genai Distriet Recorder in accordance
with statute.
c. Upon subdivision of a parcel, all annual installments whose
schedule due dates have pssed, shall be due and payable with interest at the
rate of $ percent on the principal portion of each annual installment from its
schedule due date to the date payment is made. If payment is not made within
90 days of the date of subdivision, a penalty of 10 percent shall bo added to
the amount due. Such penalty shall be based on the total of the annual install-
ments only and not upon interest on the annual installments.
d. Upon transfer of title to a parcel, annual installments shah be-
come due in the same manner as ff the parcel were subdivided and interest
and penalty shall be computed in the same mannm'.
e. Annual installments remaining after payment is made in sceo~'danee
with subpat, ag~aphs e. or d. heretuabove shall be made sceording to the
installment sehadulo in the same n,~.n~m, as assessments which have not been
aeferred.
f. In the event special deferred assessments on a pa~'eel have not
been p~Id in aeeot, danee with other applicable provisions of law by the last
schedule due date in the installment schedule, all annual installments in the
tnstalhnent schedule shall immediately become due and payable with interest
at the rate of $ percent on the prinietpal portion of eaah annual installment
fi. om its schedule due date to the date of payment. If payment is not made within
90 days of the last schedule due date, a penalty of 10 percent on the total
of all the annual installments shall be added to the amount due,
g. Pn~a~Is upon which special deferred assessments have become
due and payable shall be subject to foreclosure in accordance with statute
in the same manner as parcels with assessments which have not been defe~ed.
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this
Ootober, 1976.
ATTEST:
' ' Peter, City Clerk
29th
MAYOR JAMES A.'ELSON
FIRST
SECOND READING:
EFFECTIVE DATE:
day of
r)etober 6, 1976
Oe{:ober 20. 1976
November 20, 1976