County purchase of defaulted installment property

A. If there is no other purchaser at a sale for default, and if there is sufficient money to purchase the property in the reserve fund established pursuant to section 14.52.070 for the improvement district within which such property is located, if any, the director of finance may purchase the property on behalf of the county and payment therefor shall be made by advancement from such reserve fund. Upon redemption, or sale of such property by the director of finance, as provided in section 14.50.210 , reimbursement for such advancement shall be made to the reserve fund from the proceeds of the redemption or sale. When the director of finance purchases on behalf of the county, he shall pay in cash only the total amount of the delinquent installment or installments, plus the penalty interest and costs, with the lien of the unpaid assessment remaining in full force and effect. B. If subsection A of section 14.50.190 is applicable to properties within the improvement district in which the property being sold for default is located, and there is no other purchaser at the sale, the director of finance shall purchase the property on behalf of the county. If there is no reserve fund for such improvement district, or insufficient moneys therein to make payment therefor, then payment therefor shall be advanced from any available moneys in the general fund. (Ord. 801 § 1 (part), 1974: prior code §§ 25-7.6.1, 25-7.6.2)