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ORDINANCE NO. 8626 (Cont.) 00008447 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. SECTION 3. 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 %) per annum from the time of such levy until they shall become delinquent. After the same become delinquent, interest at the rate of fourteen (14 %) per annum shall be paid thereof, until the same is collected and paid. SECTION 4. 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 5. Such special assessments shall be paid into a fund to be designated as the "Water Fund 525 ". SECTION 6. Any ordinances or parts of ordinances in conflict herewith be, and hereby are, repealed. SECTION 7. 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. Enacted: October 10, 2000. Attest: - Q A 7 O0-L RaNae Edwards, City Clerk >i G'RA1V0,s , z `• °f� 10618'a�. Ma Approved as to Form V k57 October 5, 2000 ♦ City Attorney