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Name Thayer Family, L.L.C. TOTAL ORDINANCE NO. 8602 (Cont.) Description Lot 1, The Village Second Subdivision Assessment 173,536.11 $173,536.11 SECTION 2. The special tax shall become delinquent as follows: One -fifth of the total amount shall become delinquent in fifty days; one -fifth in one year; one -fifth in two years; one -fifth in three years; and one -fifth in four years respectively, after the date of such levy; provided, however, the entire amount so assessed and levied against any lot, tract or parcel of land may be paid within fifty days from the date of this levy without interest, and the lien of special tax thereby satisfied and released. Each of said installments, except the first, shall draw interest at the rate of seven percent (7.0 %) per annum from the time of such levy until they shall become delinquent. After the same become delinquent, interest at the rate of fourteen percent (14.0 %) per annum shall be paid thereof, until the same is collected and paid. SECTION 3. The treasurer of the City of Grand Island, Nebraska, is hereby directed to collect the amount of said taxes herein set forth as provided by law. SECTION 4. Such special assessments shall be paid into a fund to be designated as the "Sewer Extension Fund" for Sanitary Sewer District No. 490. SECTION 5. Any provision of the Grand Island City Code, and any provision of any ordinance, or part of ordinance, in conflict herewith is hereby repealed. SECTION 6. This ordinance shall be in force and take effect from and after its passage and publication, within fifteen days in one issue of the Grand Island Independent as provided by law. Approved as to Form - 2 - July 7, 2000 ♦ City Attorney