The local agency may do all of the following: (a) Prescribe procedures for determining and notifying landowners when the contingent assessment is due and payable and for collecting the assessment. (b) Prescribe a penalty for nonpayment of the contingent assessment within the time and in the manner specified. (c) Provide for an additional penalty not to exceed 2 percent per month for nonpayment of the contingent assessment and the penalty. (d) Provide for collection of those penalties.
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