70 ILCS 605/5-17
2021 Illinois Compiled Statutes|Chapter 70 - SPECIAL DISTRICTS|70 ILCS 605/ - Illinois Drainage Code.|Article V - Levy And Collection Of Assessments

 (from Ch. 42, par. 5-17)Sec. 5-17.         When original and additional assessments become due;  interest; lien; release.(a) Original and additional assessments are due and  payable 30 days after the date of the order of the court approving the  assessment roll or confirming the verdict of the jury and, unless otherwise  ordered by the court, shall thereafter draw interest at a rate to be fixed  by the court, which rate shall not exceed the maximum rate authorized by  the Bond Authorization Act, as amended at the time of the making of the  contract or, if a contract has been made for the sale of bonds or other  evidences of indebtedness or tax anticipation warrants, a rate not  exceeding the maximum rate authorized by the Bond Authorization Act, as  amended at the time of the making of the contract.  However, the court may  provide in its order that the assessments shall be payable upon some other  more convenient date or in installments of such amounts and at such times  as will be convenient for the accomplishment of the proposed work or the  payment of bonds that may be issued. Interest on unpaid assessments and  installments may be ordered to become due annually on such date each year  as may be fixed by the court.(b) The assessment constitutes a lien upon the  lands, lots and railroad property assessed the same as general taxes from  the date of such order until paid.  With respect to each original or additional assessment that is not paid by  the date payment is due, the district treasurer shall file a lien notice in the  office of the recorder of the county.  The lien notice shall state the  following:(1) The name of the district.(2) The name of the person or persons to whom notice     of the original or additional assessment roll was given pursuant to Section 5-6 or 5-16.(3) A description of the land being assessed.(4) The date the original or additional assessment     was due.(5) The amount for which the lien is claimed.If the district treasurer is a person other than the county treasurer, the  district treasurer shall report to the county treasurer, in the form required  by the county treasurer, each lien notice recorded pursuant to this  subsection (b).(c) When an assessment against any tract of  land, or an installment thereof, has been fully paid, the treasurer of the  district shall execute a release of the lien of the assessment or  installment so paid, and shall deliver a copy of the release to the owner  of the tract. In those districts which have appointed as their treasurer  persons other than the county treasurer, the treasurer will, when an  assessment against any tract of land or an installment thereof has been  fully paid, record in the recorder's office of the county in which the land  is situated the original release of the lien of the assessment or installment  so paid.(d) With respect to instruments for the payment of money issued under  this  Section either before, on, or after the effective date of this amendatory  Act of 1989, it is and always has been the intention of the General  Assembly (i) that the Omnibus Bond Acts are and always have been  supplementary grants of power to issue instruments in accordance with the  Omnibus Bond Acts, regardless of any provision of this Act that may appear  to be or to have been more restrictive than those Acts, (ii) that the  provisions of this Section are not a limitation on the supplementary  authority granted by the Omnibus Bond Acts, and (iii) that instruments  issued under this Section within the supplementary authority granted  by the Omnibus Bond Acts are not invalid because of any provision of  this Act that may appear to be or to have been more restrictive than  those Acts.    (Source: P.A. 87-374; 88-30.)