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20020`246 ORDINANCE NO. 8719 (Cont.) Name Description Assessment Central Community College Lot 1, Community College Subdivision $ 36,705.79 Central Community College Lot 2, Community College Subdivision 36,709.29 Central Community College Lot 3, Community College Subdivision 34,906.12 Central Community College Lot 4, Community College Subdivision 34,902.62 Central Community College Part of Lot 5, Community College Subdivision lying north 7,002.58 of and adjacent to Lot 2, Community College Subdivision, being 40' north and south, and 205.79' east and west Central Community College Part of Lot 5, Community College Subdivision lying north 10,503.87 of and adjacent to Lot 3, Community College Subdivision, being 60' north and south, and 300' east and west Central Community College Part of the E' /2 of the SW' /4 of Section 29 -11 -9 lying west of 238,581.48 and adjacent to the west line of Wortman Drive between the north line of US Highway 34 and the south line of Lot 4, Community College Subdivision, and being within 300' of the west line of Wortman Drive TOTAL $399,311.75 SECTION 2. The special tax shall become delinquent as follows: One -tenth of the total amount shall become delinquent in fifty days; one -tenth in one year; one -tenth in two years; one -tenth in three years; one -tenth in four years, one -tenth in five years; one -tenth in six years; one -tenth in seven years; one -tenth in eight years; and one -tenth in nine 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 thereon, 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. Approved as to Form ♦ :7- - 2 - February 22, 2002 ♦ City Attorney V