Part 10.5ALTERNATIVE PROCEDURE FOR DIVISION OF LAND AND BOND
Section § 8740
This section provides an alternative set of procedures to those in Part 10 for dividing land and handling related bonds.
Section § 8740.1
If you own a piece of land with unpaid bonds and you subdivide or transfer part of it, you need to apply to the street superintendent. The application should explain how the land was divided or transferred and ask for the unpaid bond amounts to be split accordingly. There is a fee for each new land part, determined by local government, and these fees go into the treasury.
Section § 8740.2
When the street superintendent gets an application and fee, they will divide the outstanding assessment amount fairly among all the individual pieces of a property if that property had been split before the original assessment was created.
Section § 8740.3
This law section outlines the procedure for recording an apportioned assessment on a piece of land. First, all landowners must sign an application to request the record of the apportioned assessment with the street superintendent. Then, the street superintendent must notify the bondholder about the apportioned assessment by mail, including the details and amounts. If no hearing request is made within 14 days, the assessments will be recorded. If a hearing is requested, it will follow guidelines set out in Part 10, starting with Section 8730.
Section § 8740.4
If an application for street work is signed by everyone who needs to sign it, and there's no request for a hearing, the street superintendent will update the records. This includes changing the diagram and assessment to match any new divisions and giving new numbers to each separate piece of the original land.
Section § 8740.5
The street superintendent must submit the updated assessment to the auditor. The auditor is then responsible for recording, each year, the due installments for each portion of the property on the assessment roll. If a city is handling the proceedings, but county officials are in charge of collecting the assessments, the street superintendent must also send a copy of the amended assessment to the county auditor.