HB4529 S JUD AM #1
Graham 4841
The Committee on the Judiciary moved to amend the bill by striking out everything after the enacting clause and inserting in lieu thereof the following:
ARTICLE 25. RESORT AREA DISTRICTS.
§7-25-22. Liens; recording notice of liens; priority; release of lien; notice to future property owners.
(a)
With the exception of property exempt from assessment pursuant to §7-25-18 of
this code, there shall be a lien on all real property located within the resort
area district for the assessments imposed by §7-25-17 of this code, which lien shall attach to those parcels made subject to the
assessment on the date specified in the notice to property owners. A notice of
the liens of said the assessments referring to the assessing
resolution and setting forth a list of the property assessed, described
respectively as to amounts of assessment, ownership, and location of the
property, shall be certified, by the chairman chair and secretary
of the board, to the clerk of the county commission of the county wherein
in which the project is located. The county clerk shall record the
notice of such the lien in the appropriate trust deed book or
other appropriate county lien book and index the same lien in the
name of each owner of real property assessed. From the date of an assessment,
the trustee, for the benefit of bondholders if assessment bonds are issued by
the resort area district, and/or the district shall have such has
the lien and shall be is entitled to enforce the same lien
in its, his, her, or their name to the extent of the amount, including
principal and interest and any penalty due for any failure to pay an
installment when due, of such the assessments and against the
property to which the assessment applies, as to any assessment not paid as and
when due. The trustee or the district, as an alternative to the enforcement
provision set forth in §7-25-21 of this code, are granted all legal remedies as
are necessary to collect the assessment. Such The assessments
shall be are and constitute liens for the benefit of the resort
area district or the trustee, for the benefit of bondholders if assessment
bonds are issued by the resort area district, upon the respective lots and
parcels of land assessed and shall have priority over all other liens
except: to those (1) Any liens for land taxes due the state,
county, and municipality; and except (2) any liens for
preexisting special assessments provided under this code; and (3) any liens
by a lien creditor, including, without limitation, any lien creditor secured by
a deed of trust lien, with respect to any of the lots or parcels of land with a
lien properly recorded with the Clerk of the County Commission of the county in
which the lots or parcels of land are located prior to the time that the notice
of the assessment lien is recorded. If any assessment is revised in
accordance with this article, the lien created by this section shall extend
extends to the revised assessment so revised and shall
have has the same priority as the priority of the lien created upon
the laying of the original assessment. Such The assessments and
interest thereon shall be paid by the owners of the property assessed as and
when the installments are due. Following the payment in full of any assessment
bonds including any interest thereon, the chairman chair and
secretary of the board shall execute a release of all liens and shall certify
the same to release to the county clerk for recondition.
(b)
Following the grant of any assessment on property as provided in this article,
the seller of such the property shall provide reasonable
disclosure to the buyer in the real estate contract that an assessment has been
granted on the property, the amount of the assessment, and the duration of the
assessment.
Adopted
Rejected