Section 36-9-37-22.5 - Preservation of assessment in default as a lien(a) The municipal fiscal officer and the municipal works board may jointly establish procedures allowing a municipality to avoid a sale, on property that is not delinquent for property taxes, penalties, and other special assessments, that: (1) is required under section 22 of this chapter; and(2) would be conducted under IC 6-1.1-24; by preserving an assessment that is in default as a lien against the property on which the assessment was imposed. A lien created under this section applies to the total assessment principal, interest, and penalties owed by the property owner on the date on which the municipality determines that the assessment is in default.
(b) Except as provided in subsection (c), an assessment preserved as a lien under this section shall be paid by the person liable for the assessment when ownership of the property is transferred.(c) The following apply to an assessment preserved as a lien under this section: (1) Additional penalties do not accrue to the lien after the date described in subsection (a).(2) The procedures established under subsection (a) must specify when additional interest shall accrue to the lien after the date described in subsection (a).(3) The lien must be recorded.(4) The amount owed by the property owner must be paid by the person liable for the assessment before the final bond maturity date.(d) When the person liable pays an assessment preserved as a lien under this section, the proceeds of the collection are subject to the same requirements as the proceeds of a sale conducted under section 24 of this chapter.As added by P.L. 45-2004, SEC.4.