2622

COUNTY LOCAL LAWS

or at the option of the applicant, [in twelve (12)
monthly installments, or in one (1) installment,] on
or before the expiration of one year from such date,
bearing interest on the unpaid balance at a rate to be
determined by the controller predicated upon the then
current rate on invested county funds. The capital
connection charge for existing structures may likewise
be so paid in full on date of application or, at his
option, the applicant may elect to pay such capital
connection charge in [forty-eight (48) ] SIXTY (60)
monthly installments, or in [four] FIVE (5) equal
consecutive annual installments bearing interest on
the COMBINED unpaid balance at a rate to be determined
by the controller predicated upon the then current
rate on invested county funds [, the initial
installment], ANNUAL INSTALLMENTS to be billed and
payable ON EACH ANNIVERSARY OF THE DATE OF APPLICATION
FOR CONNECTION, OR IF MONTHLY INSTALLMENTS WERE
ELECTED, THEN SUCH INSTALLMENTS ARE DUE AND PAYABLE
EACH MONTH BEGINNING ONE (1) MONTH FROM THE DATE OF
APPLICATION FOR CONNECTION [with the first special
benefit assessment charge due on such property upon
the expiration of one year from the date of such
application, and the remaining installments to be
similarly billed and payable annually thereafter],
provided that no applicant owning other than existing
single family dwelling units way pay the capital
connection charge in installments unless said
applicant has first submitted written evidence
satisfactory to the controller that said applicant
cannot obtain private financing. Any of such
installments may be prepaid [in inverse chronological
order] at any time.

(h) Such installments, and the interest thereon,
shall constitute liens on the property charged until
paid and any such installment not paid within sixty
(60) days of its billing date shall, AT THE OPTION OF
THE CONTROLLER, CAUSE THE ENTIRE UNPAID BALANCE TO
BECOME IMMEDIATELY DUE AND PAYABLE [bear penalty at
the rate of one—half per cent per month until paid.]
The lien of such unpaid installments shall be
subordinate only to the lien of state and county taxes
and special benefit assessments and payment thereof
shall be enforced at the same time and in the same
manner as such taxes and assessments. Upon the
institution of any foreclosure or tax sale proceedings
or title transfer by deed as a result of sale, with
respect to a property subject to a lien for such
installments, the unpaid balance thereof shall become