Text: HF00483 Text: HF00485 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 468.57, subsection 2, unnumbered 1 2 paragraph 1, Code 1997, is amended to read as follows: 1 3 To pay the assessments in not less than ten nor more than 1 4 twenty equal installments, with the number of payments and 1 5 interest rate determined by the board, notwithstanding chapter 1 6 74A. 1 7 PARAGRAPH DIVIDED. The first installment of each 1 8 assessment, or the total amount if less than one hundred 1 9 dollars, is due and payable on July 1 next succeeding the date 1 10 of the levy, unless the assessment is filed with the county 1 11 treasurer after May 31 in any year. The first installment 1 12 shall bear interest on the whole unpaid assessment from the 1 13 date of the levy as set by the board to the first day of 1 14 December following the due date. The succeeding annual 1 15 installments, with interest on the whole unpaid amount, to the 1 16 first day of December following the due date, are respectively 1 17 due on July 1 annually, and must be paid at the same time and 1 18 in the same manner as the first semiannual payment of ordinary 1 19 taxes. All future installments of an assessment may be paid 1 20 on any date by payment of the then outstanding balance plus 1 21 interestaccrued to the date of paymentto the next December 1 22 1. Additional annual installments may be paid if the current 1 23 installment has been paid before December 1. A payment must 1 24 be for the full amount of the next installment. If 1 25 installments remain to be paid, the next annual installment 1 26 with interest added to December 1 shall be due. 1 27 After December 1, if a drainage assessment is not 1 28 delinquent, a property owner may pay one-half or all of the 1 29 next annual installment of principal and interest of a 1 30 drainage assessment prior to the delinquency date of the 1 31 installment. When the next installment has been paid in full, 1 32 successive principal installments may be prepaid. The county 1 33 treasurer shall accept the payments of the drainage 1 34 assessment, credit the next annual installment or future 1 35 installments of the drainage assessment to the extent of the 2 1 payment or payments, and remit the payments to the drainage 2 2 fund. If a property owner elects to pay one or more principal 2 3 installments in advance, the payment schedule shall be 2 4 advanced by the number of principal installments prepaid. 2 5 PARAGRAPH DIVIDED. Each installment of an assessment with 2 6 interest on the unpaid balance is delinquent from October 1 2 7 after its due date, including those instances when the last 2 8 day of September is a Saturday or Sunday, and bears the same 2 9 delinquent interest as ordinary taxes. When collected, the 2 10 interest must be credited to the same drainage fund as the 2 11 drainage special assessment. 2 12 EXPLANATION 2 13 Code section 468.57 provides for the payment of an 2 14 assessment within a drainage district according to an 2 15 installment schedule. The section provides for the future 2 16 installments of an assessment. A future installment may be 2 17 paid on any date by payment of the then outstanding balance 2 18 plus interest. The bill eliminates a provision requiring that 2 19 the interest accrue to the date of payment, and provides that 2 20 interest ends on the next December 1. The bill provides that 2 21 additional annual installments may be paid if the current 2 22 installment has been paid before December 1. The bill 2 23 provides that a payment must be for the full amount of the 2 24 next installment, and if installments remain to be paid, the 2 25 next annual installment with interest added to December 1 is 2 26 due. The bill provides that after December 1, if a drainage 2 27 assessment is not delinquent, a property owner may pay one- 2 28 half or all of the next annual installment of principal and 2 29 interest of a drainage assessment prior to the delinquency 2 30 date of the installment. It provides that when the next 2 31 installment has been paid in full, successive principal 2 32 installments may be prepaid. The county treasurer is required 2 33 to accept the payments, credit the next annual installment, 2 34 and remit the payment to the district's drainage fund. The 2 35 bill provides that if a property owner elects to pay one or 3 1 more principal installments in advance, the payment schedule 3 2 shall be advanced by the number of principal installments 3 3 prepaid. 3 4 LSB 2086HH 77 3 5 da/cf/24
Text: HF00483 Text: HF00485 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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