Section 15-6-425 - Assessments; general tax certificates subject thereto; foreclosure; interest(a) The holder of any certificate of sale or delinquency for general taxes, before commencing any action to foreclose the lien, shall: (i) Pay in full all local assessments or installments outstanding against the whole or any portion of the property included in the certificate; or (ii) Proceed to acquire title to the property subject to certain or all local assessment liens thereon, in which case the complaint, decree of foreclosure, order of sale, sale, certificate of sale and deed shall so state. (b) If the holder pays the local assessments, he is entitled to twelve percent (12%) interest per year on that amount from the date of payment. (c) In any action to foreclose a lien for general taxes upon any property, a copy of the complaint shall be served on the treasurer of the city or town in which the property is located within five (5) days after it is filed. If any property is struck off to or bid in by the county at any sale for general taxes, and the property is subsequently sold by the county, the proceeds of the sale shall first be applied to discharge in full the lien or liens for general taxes for which the property was sold. The remaining proceeds, or the amount necessary, shall be paid to the city or town to discharge all local assessment liens upon the property. Any surplus shall be distributed among the proper county funds.