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Each Annual Installment, including the interest on the unpaid amount of a Special <br />Assessment, shall be assessed annually. Each Annual Installment together with interest <br />thereon shall be delinquent if not paid prior to February 1 of the following year. The initial <br />Annual Installments relating to the Special Assessments will be due when billed, and will be <br />delinquent if not paid prior to February 1 of the year subsequent to the planned issuance of <br />PID Bonds. Should PID Bonds not be issued by the City within six months of the completion <br />of the Authorized Improvements, the initial Annual Installments will be due when billed, <br />and will be delinquent if not paid prior to February of the year subsequent to the <br />completion of the Authorized Improvements. <br />G. Surplus Funds.Remaining in the PID Bond Account <br />If proceeds from the PID Bonds still remain after all of the Public Improvements are <br />constructed and accepted by the City, the proceeds may be utilized in accordance with <br />Section VI.E of this SAP. <br />23 <br />