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Midland Ag Service Inc. <br />TOTAL <br />ORDINANCE NO. 8853 (Cont.) <br />by 295.17 feet <br />200314330 <br />Part ofNE1 /4 ofNE1 /4 of Section 14 -11 -9, 674.03 feet 18,893.45 <br />by 295.17 feet <br />$193,534.57 <br />SECTION 2. The special tax shall become delinquent as follows: One -tenth of <br />the total amount shall become delinquent in fifty days; one -tenth in one year; one -tenth in two <br />years; one -tenth in three years; one -tenth in four years; one -tenth in five years; one -tenth in six <br />years; one -tenth in seven years; one -tenth in eight years; and one -tenth in nine years respectively, <br />after the date of such levy; provided, however, the entire amount so assessed and levied against <br />any lot, tract or parcel of land may be paid within fifty days from the date of this levy without <br />interest, and the lien of special tax thereby satisfied and released. Each of said installments, <br />except the first, shall draw interest at the rate of seven percent (7.0 %) per annum from the time <br />of such levy until they shall become delinquent. After the same become delinquent, interest at <br />the rate of fourteen percent (14.0 %) per annum shall be paid thereof, until the same is collected <br />and paid. <br />SECTION 3. The assessments for Midland Ag Services, Inc. have been deferred <br />in accordance with City of Grand Island Resolution 2002 -324 approved on October 8, 2002, and <br />shall not accrue interest until terminated in accordance with Neb. Rev. Stat. § §19- 2428 -19 -2431. <br />SECTION 4. The treasurer of the City of Grand Island, Nebraska, is hereby <br />directed to collect the amount of said taxes herein set forth as provided by law. <br />SECTION 5. Such special assessments shall be paid into a fund to be designated <br />as the "Sewer Extension Fund" for Sanitary Sewer District No. 500. <br />-4- <br />