Within ten (10) days after the ordinance levying assessments has been passed, the
city recorder shall send by registered mail, to his or her last known address, a notice
of assessment to the record owner and, so far as readily known, to the owner as herein
defined, of each lot, tract, or parcel of land assessed. This notice shall state the
time within which such assessments must be paid or bonded and that assessments which
are not paid or bonded within the time stated in the notice shall bear interest at
six percent per annum and that the property so assessed is subject to foreclosure
if such assessments are not paid or bonded within the time stated in the notice. Such
record owner or other owner as herein defined may make application to bond such assessment
pursuant to the provisions of ORS 223.205 and 223.210 to 223.295, which is known as
the "Bancroft Bonding Act," together with amendments or future amendments thereof.
(Ord. 00-1 § 1(j), 2000; Ord. 1211-C § 12, 1956)
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