(1) Any public agency that pays all or part of a property owner’s assessment pursuant to the public agency’s adopted assessment deferral loan program shall have a lien against the assessed property for the amount of the public agency’s payment and interest thereon as specified in the public agency’s assessment deferral loan program.
(2) The public agency’s auditor, clerk or other officer shall maintain a docket describing all payments of assessments made by the public agency pursuant to its adopted assessment deferral loan program. The liens created by such payments shall attach to each property for which payment is made at the time the payment is entered in this docket. The liens recorded on this docket shall have the same priority as a lien on the bond lien docket maintained pursuant to ORS 223.230. A lien shall be discharged upon repayment to the public agency of all outstanding principal and interest in accordance with the requirements of the public agency’s adopted assessment deferral loan program.
(3) The lien may be enforced by the public agency as provided by ORS 223.505 to 223.650. The lien shall be delinquent if not paid according to the requirements of the public agency’s adopted assessment deferral loan program. [Formerly 468.983]
Note: See note under 454.430.Section: Previous 454.415 454.425 454.430 454.433 454.436 454.439 454.442 454.445 454.505 454.515 454.525 454.535 454.605 454.607 454.610 Next
Last modified: August 7, 2008