§ 53-68. Statute of limitations.

(a)

Except as provided in this section and unless such time is extended by waiver, the amount of the tax levied by this article and the penalty and interest applicable thereto, other than interest accruing thereafter, shall be assessed within three (3) years after the return is filed, and no notice of lien shall be filed or distraint warrant issued or suit for collection instituted or any other action to collect the same commenced after the expiration of such period unless the manager issues a notice of assessment for a tax deficiency within such period.

(b)

For purposes of this section, a tax return filed before the last day prescribed by law or by regulation promulgated pursuant to law for the filing thereof shall be considered as filed on such last day.

(c)

In the case of failure to file a return or the filing of a false or fraudulent return with intent to evade tax, the tax together with penalty and interest may be assessed and collected at any time.

(d)

Where, before the expiration of the time prescribed in this section for the assessment of tax, both the manager and the taxpayer have consented in writing to an assessment after such time, the tax may be assessed at any time prior to the expiration of the period agreed upon. The period so agreed upon may be extended by subsequent agreements in writing made before the expiration of the period previously agreed upon. No lien shall continue under this article beyond the period provided for assessing the tax unless taxes have been assessed within the period, as it may be extended, and the lien shall then continue for one (1) year after the expiration of any such period, unless otherwise specifically provided in this article.

(e)

Nothing in this section shall be construed to limit any right accrued, or revive any liability barred by any such limitation, by ordinance effective prior to the enactment of this section.

(Ord. No. 666-81, § 1, 12-14-81; Ord. No. 638-84, § 28, 12-3-84; Ord. No. 679-87, § 18, 11-23-87)