{"data":{"id":"us-ok/okla.-stat.-tit.-11-11-39-112","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 11, § 11-39-112","heading":"Assessments - Rate - Interest - Delinquent payments -","body":"Liens.\n\nA. The governing body may by ordinance:\n\n1. Establish the time and terms of paying the assessment or an\n\ninstallment on the assessment;\n\n2. Set a rate of interest not exceeding ten percent (10%) per\n\nannum upon deferred payments of the assessment which shall commence\n\nfrom the date of publication of the ordinance ratifying the\n\nassessment;\n\n3. Set interest rates not exceeding ten percent (10%) per annum\n\nupon the outstanding principal amount of bonds issued by a district\n\npursuant to Section 39-115 of this title; and\n\n4. Fix penalties to be charged for delinquent payment of an\n\ninstallment on an assessment.\n\nB. After the publication of the ordinance ratifying an\n\nassessment levied as provided in Section 39-111 of this title, the\n\nassessment with any interest or penalty accruing on such assessment\n\nshall constitute a lien upon the tract or parcel of land so\n\nassessed. Such lien shall be coequal with the lien for ad valorem\n\ntaxes and the lien of other improvement districts, and be superior\n\nto all other liens, claims and titles. Unmatured installments are\n\nnot deemed to be within the terms of any general covenant or\n\nwarranty. All purchasers, mortgagees or encumbrancers of a tract or\n\nparcel of land so assessed shall acquire the tract or parcel of land\n\nsubject to the lien so created.\n\nC. Within sixty (60) days after the publication of the\n\nordinance ratifying an assessment roll, the city clerk shall\n\nprepare, sign, attest with the municipal seal and record in the\n\noffice of the county clerk a claim of lien for any unpaid amount due\n\nand assessed against a tract or parcel of land.\n\nD. Any tract or parcel so assessed shall not be relieved from\n\nthe assessment or lien by the sale of the tract or parcel of land\n\nfor taxes or any other assessment, subject to the provisions of\n\nSection 39-119 of this title. The statute of limitations shall not\n\nbegin to run against an assessment until after the last installment\n\nof the assessment becomes due.\n\nE. The fact that an improvement is omitted in front of any\n\ntract or parcel of land does not invalidate a lien or assessment\n\nmade against any other tract or parcel of land.\n\nF. A delinquent installment of an assessment shall be\n\nforeclosed and the tract or parcel of land concerned be sold in the\n\nmanner provided by law for foreclosure of mortgages on land. If, at\n\nthe sale, there is no better bidder for the tract or parcel of land\n\nthe municipality shall bid in the tract or parcel of land for the\n\namount due on the assessment plus any interest, penalties or costs\n\nwhich have accrued against the assessment. Any real estate sold\n\nunder any order, judgment or decree of court to satisfy the lien may\n\nbe redeemed by the owner or his assignee at any time within one (1)\n\nyear of the date of sale by paying to the purchaser thereof or\n\nassignee the amount paid with interest from the date of purchase at\n\nthe rate of twelve percent (12%) per annum.","path":["OK Code","Title 11"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os11.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"4b6d37c49e1891dfb21ed71bf52d47507e3cb94d646bf285b9a596ec71791591","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-11-11-39-111","next":"us-ok/okla.-stat.-tit.-11-11-39-113"},"notice":"GroundRules: Original legal text. Not legal advice."}