Section 45-63-3 - Special assessment(a) The town of Middletown, by ordinance, is authorized to impose and collect a special assessment to defray the cost of construction of said stormwater control systems in areas not presently served by subsurface stormwater control systems. The town council shall prescribe a just and equitable annual assessment to all owners of land abutting on that portion of any street, highway or right-of-way in which storm water drainage pipes, catch basins and lines are installed at the expense of the town of Middletown. Said assessment shall be adopted by ordinance of the town council after public hearing thereon, shall be imposed only after said stormwater control system shall have been installed and shall be formulated to repay to the town the actual costs of construction of said storm water control system, including design, permitting, debt service and costs on any issuance of bonds or notes issued to finance the same, or such portion thereof as the town shall deem appropriate, over a period not to exceed twenty (20) years, (or the repayment term of any bonds or notes utilized to finance same, whichever may be greater). Said assessment to owners of abutting land shall be at a uniform rate for each foot of frontage of land abutting on a street, highway or right-of-way, into which a subsurface stormwater control system shall have been installed by the town; provided, however, that a minimum rate may be established for any lot having foot frontage of less than fifty (50) feet which rate may be equal to that charged for a lot with foot frontage of fifty (50) feet; provided, that a higher rate per foot frontage may be assessed to a lot of land upon which a dwelling or other structure is located than an unimproved lot of land, and further provided, that whenever any lot is located at the intersection of two (2) streets, highways or rights-of-way in which stormwater drainage lines have been constructed at the expense of the town of Middletown hereunder the assessment on such lot shall be made only for the stormwater drainage line on one street, highway or right-of-way, that being the street, highway or right-of-way having the greatest linear foot frontage. It is hereby determined that assessment made under this section will not exceed the benefits to the abutting owners.(b) Said ordinance shall provide that the amount of said special assessment shall be payable to the town in equal annual installments for a period not exceeding twenty (20) years, (or the repayment term of any bonds or notes utilized to finance same, whichever may be greater), with interest thereon, if any, at a rate to be determined by the town council not exceeding six percent (6%) per annum or the interest rate payable on any bonds or notes issued to finance same, whichever may be greater, payable at such time as each installment becomes due. Any property owner shall have the right to prepay unpaid installments with interest to time of prepayment.(c) The town council shall annually, prior to the first day of July, certify to the finance director all assessments made by it under the authority of this section. Each such assessment made by the town council pursuant to this section shall be a lien upon the lands, buildings and improvements upon which it is made in the same way and manner in which taxes assessed on real estate and if not paid as required shall be collected in the same manner that taxes assessed on real estate are by law collected. Such assessment shall be due and payable at the time the next regular town taxes are first due and payable next after receipt by the finance director of the certification of assessments from the town council, except that payment may be made in quarterly installments and installment payments shall be due beginning at such time, and the finance director shall forthwith certify to the tax collector for collection, and the tax collector shall proceed to collect such assessment in the same manner and at the same time the regular taxes of the town are first due and payable, with provision for installments as provided in this section. Interest at the rate per annum for nonpayment of town taxes shall be charged and collected upon all overdue assessments and installments from the date they are payable until paid. P.L. 2006, ch. 121, § 1; P.L. 2006, ch. 142, § 1; P.L. 2009, ch. 310, § 71.