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Section.6,16.8 Billing and Collection. <br /> As>Provided in the financing, program administration agreement and <br /> the applicable;Property assessed financing assessment contract. the property <br /> assessed financing assessment for a Property shall be billed and collected in <br /> the same_manner as real`property taxes are billed collected and be subject to <br /> the same enalties and same procedure..sale; and lien priorit, subject to this <br /> chapter. in-the case of delinquency as is Provided bY general law for the <br /> default of the :poment of real property: taxes. unless another procedure. <br /> including standalone billing and collection is ag eed uiPon b the authorit��. <br /> and the director. The Director shall remit_any property assessed financing. <br /> assessments collected. less any reasonable administrative costs of the county <br /> included in the assessments, to or on the direction of the authority_ for <br /> further application by the authority to pay each property assessed financing <br /> lender and to 'pay- the reasonable administrative costs of the authority in <br /> accordance .with- the applicable property assessed financing assessment <br /> contract. <br /> Section 6,16.9 Enforcement of Lien. <br /> _ The Director shall commence and diligently. Pursue to <br /> completion. and shall covenant in a contract or instrument for the benefit of <br /> any property, assessed financing lender or bondholder to - commence and <br /> diliaentl = pursue to completion. the foreclosure of the lien- of delinquent <br /> property.assessed financing:assessments and any Penalty. interests and costs <br /> by advertisement and_sale and with the same effect as provided by: general <br /> law for sales of real Property pursuant- to _default in"payment of property <br /> taxes. The-foregoing covenant shall specif'- a deadline for commencement of <br /> the foreclosure" sale and any other terms and conditions the Director <br /> determines reasonable regarding the foreclosure sale. For property assessed <br /> financing assessments levied but not paid when due Pursuant to a property <br /> assessed financing assessment contract. the foreclosure of the lien of the <br /> property assessed financing assessment, lien of real property taxes or any <br /> assessments levied -under other assessment ordinances, or any, other lien, <br /> foreclosed. -shall not accelerate or extinguish the remaining term of the <br /> property- assessed financing assessment as approved in the applicable <br /> property assessed financing-assessment contract. <br /> (hj: Subject to theforegoing: the lien of delinquent propertvassessed <br /> financing assessments may -be enforced. by . judicial or non-judicial <br /> foreclosure. either in a single. combined sale of the.property to satisfy all <br /> liens for delinquent property'assessed financing assessments. real :property <br /> taxes and assessments- levied under other assessment ordinances.. or in a <br /> separate-sale to satisfy the lien for delinquent property assessed financing, <br /> assessments only: subject to the following: <br /> (i):: - If the propertY is sold in a single.. combined foreclosure sale to <br /> satisfy multiple delinquent liens as aforesaid: the sale proceeds shall be <br /> applied to the payment of all delinquent._ property. assessed financing, <br /> assessments, real property taxes- and assessments under other assessment <br /> 6 <br /> Bill No. 2912 <br />