A. If the Council specifically approves the same, a property owner who
has bonded an assessment a portion of which remains unpaid, or a property owner
whose assessment on such property has been subdivided as provided in the
Charter, may apply for a rebonding if all taxes then due have been paid upon the
property, no outstanding liens have been filed against the property, and if all
the conditions applicable to initial bonding are met at the time of rebonding
application. The rebonding application may include all unpaid assessment amounts
remaining due and unpaid. All provisions relating to rebonding contained in the
statutes of the State shall be applicable.
B. As used in this Section the term "property owner" shall mean the owner
of the Title to real property or the contract purchaser of real property, of
record as shown on the last available complete assessment roll in the Office of
the County Assessor.