8.24.070 Repurchase by record owner.
A. The former record owner at the time of tax foreclosure of property acquired by the Borough, or the assigns of that former record owner, may repurchase the property for the full amount applicable to the property under the judgment and decree, with interest at a rate of 15 percent a year from the date of entry of the judgment of foreclosure to the date of repurchase, delinquent taxes assessed and levied as though the property had continued in private ownership, including special assessments, and costs of foreclosure and sale.
B. This right to repurchase must be exercised:
1. Before the Borough sells or contracts to sell the tax-foreclosed property; and
2. Before the Assembly adopts an ordinance providing for the retention of the tax-foreclosed property for a public purpose; and
3. Within 10 years after the close of the redemption period. (Ord. 86-036 § 7, 1986. 2004 Code § 3.36.070.)