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435.194 Procedure to obtain deferred assessment <br />The homeowner shall make application for deferred payment <br />of special assessments on forms prescribed by the County Auditor <br />of the County in which the homestead is located. Where the deferred <br />assessment is granted, the auditor shall record a notice thereof <br />with the County recorder of said County which shall set forth the <br />amount of the assessment. The taxing authority may determine by <br />ordinance or resolution the amount of interest, if any, on the <br />deferred assessment and this rate shall be recorded by the auditor <br />along with and in the same manner as the amount of the assessment. <br />435.195 Termination of right to deferred payment <br />The option to defer the payment of special assessments shall terminate <br />and all amounts accumulated plus applicable interest shall become due <br />upon the occurrence of any of the following events: (a) the death of <br />the owner, provided that the spouse is otherwise not eligible for the <br />benefits hereunder; (b) the sale, transfer or subdivision of the <br />property or any part thereof; (c) if the property should for any reason <br />lose its homestead status; or (d) if for any reason the taxing authority <br />deferring the payments shall determine that there would be no hardship <br />to require immediate or partial payment. <br />s/s Joseph Chlebeck <br />City Clerk <br />Page 47 <br />