Okla. Stat. tit. 11, § 11-39-112

Liens.

A. The governing body may by ordinance:

1. Establish the time and terms of paying the assessment or an

installment on the assessment;

2. Set a rate of interest not exceeding ten percent (10%) per

annum upon deferred payments of the assessment which shall commence

from the date of publication of the ordinance ratifying the

assessment;

3. Set interest rates not exceeding ten percent (10%) per annum

upon the outstanding principal amount of bonds issued by a district

pursuant to Section 39-115 of this title; and

4. Fix penalties to be charged for delinquent payment of an

installment on an assessment.

B. After the publication of the ordinance ratifying an

assessment levied as provided in Section 39-111 of this title, the

assessment with any interest or penalty accruing on such assessment

shall constitute a lien upon the tract or parcel of land so

assessed. Such lien shall be coequal with the lien for ad valorem

taxes and the lien of other improvement districts, and be superior

to all other liens, claims and titles. Unmatured installments are

not deemed to be within the terms of any general covenant or

warranty. All purchasers, mortgagees or encumbrancers of a tract or

parcel of land so assessed shall acquire the tract or parcel of land

subject to the lien so created.

C. Within sixty (60) days after the publication of the

ordinance ratifying an assessment roll, the city clerk shall

prepare, sign, attest with the municipal seal and record in the

office of the county clerk a claim of lien for any unpaid amount due

and assessed against a tract or parcel of land.

Oklahoma Statutes - Title 11. Cities and Towns Page 441

D. Any tract or parcel so assessed shall not be relieved from

the assessment or lien by the sale of the tract or parcel of land

for taxes or any other assessment, subject to the provisions of

Section 39-119 of this title. The statute of limitations shall not

begin to run against an assessment until after the last installment

of the assessment becomes due.

E. The fact that an improvement is omitted in front of any

tract or parcel of land does not invalidate a lien or assessment

made against any other tract or parcel of land.

F. A delinquent installment of an assessment shall be

foreclosed and the tract or parcel of land concerned be sold in the

manner provided by law for foreclosure of mortgages on land. If, at

the sale, there is no better bidder for the tract or parcel of land

the municipality shall bid in the tract or parcel of land for the

amount due on the assessment plus any interest, penalties or costs

which have accrued against the assessment. Any real estate sold

under any order, judgment or decree of court to satisfy the lien may

be redeemed by the owner or his assignee at any time within one (1)

year of the date of sale by paying to the purchaser thereof or

assignee the amount paid with interest from the date of purchase at

the rate of twelve percent (12%) per annum.