Whenever any installment upon any local improvement district assessment or utility local improvement district assessment shall become delinquent, each such delinquent installment remaining unpaid at the date of delinquency shall have added thereto a penalty equal to the rate of interest provided by ordinance for the bonds or installment note or notes issued to pay the costs of the improvement in such local improvement district or utility local improvement district plus five percent. When not otherwise provided by ordinance, such delinquent installments shall bear interest at the same rate as is provided by ordinance for the final assessment roll for such local improvement district or utility local improvement district or for the bonds or installment note or notes issued in payment or part payment of the cost of the improvement in such local improvement district or utility local improvement district. [Ord. 593 § 5, 2014.]