2006 Utah Code - 17A-3-222 — Default in payment of assessment installment.

     17A-3-222.   Default in payment of assessment installment.
     (1) When an assessment is payable in installments and a default occurs in the payment of any installment when due, the governing body may declare the unpaid amount to be delinquent, immediately due and payable, and subject to collection as provided in this part. In addition, the governing body may accelerate payment of the total unpaid balance of the assessment and declare the whole of the unpaid principal and the interest then due to be immediately due and payable. Interest shall accrue and be paid on all amounts declared to be delinquent or accelerated and immediately due and payable and shall bear interest at a rate determined by the governing body until the next succeeding date after payment or collection on which interest is payable on any bonds issued. Costs of collection as approved by the governing body or required by law shall be charged and paid on all amounts declared to be delinquent or accelerated and immediately due and payable.
     (2) Any interest assessed for or costs of collection charged under the authority of this section on delinquent balances of principal and interest shall be the same as are applied to delinquent real property taxes for the year in which the balance of the fee or charge became delinquent. This subsection does not apply to assessments securing special improvement district bonds issued before April 23, 1990.
     (3) Notwithstanding the provisions of Subsection (1), if before the final date payment may be legally made under a final sale or foreclosure of property to collect delinquent assessment installments, the owner pays the amount of all unpaid installments that are past due and delinquent with interest at the rate determined by the governing body to date of payment plus all approved or required costs, the owner shall then be restored to the right to pay in installments in the same manner as if default had not occurred.

Amended by Chapter 214, 1990 General Session
Renumbered and Amended by Chapter 186, 1990 General Session