Within 60 days of the adoption of the final assessment roll, described in § 154.07(C) of this chapter, the city shall notify in writing each property owner assessed within the LID of the amount of the assessment against the property, that the property owner may make application to pay the assessment in whole or in part by the installment method provided for in the Bancroft Bonding Act, O.R.S. 223.205 through 223.330, that if owners fail to apply for the Bancrofting method of financing, the amount must be paid within 30 days of the date of its entry in the unbonded lien docket. The notice shall be sent by U.S. mail addressed to the affected property owner at his or her last known (to the city) address or, if none is known, to the owner at the address where the property is located. (Ord. 92-05, passed 12/15/1992)