Current through Acts 2023-2024, ch. 1069
Section 68-205-109 - Filing and recording of notice of assessment, C-PACER lien, and assignments - Segregation of funds(a) A local government that authorizes financing through special assessments under this chapter shall:(1) File a written Notice of Assessment and C-PACER lien in the records of the office of the county register of deeds of the county in which the property is located. The notice must contain:(A) The amount of the assessment;(B) The legal description of the property;(C) The name of each property owner;(D) A copy of the written assessment contract; and(E) A reference to this section authorizing the placement of the assessment and C-PACER lien on the property;(2) File and record each C-PACER lien in the real property records of the county in which the property is located. The recording must contain: (A) The legal description of the eligible property;(B) The name of each property owner;(C) The date on which the lien was created;(D) The principal amount of the lien; and(E) The term of the lien; and(3) Record the executed assignment of the assessment agreement, notice of assignment of assessment, and C-PACER lien, or may delegate the recording to the capital provider receiving the assignment.(b) The amount of funds allotted through a program must be segregated from the calculation of the undisputed portions necessary for property tax appeals under title 67, chapter 5.Added by 2021 Tenn. Acts, ch. 138, s 1, eff. 7/1/2021.