Section 5-516. Lien of special assessment

1. Any provision of law to the
  contrary notwithstanding, in any  case  in  which  a  special  or  local
  assessment is levied against real property a lien shall attach as of the
  time  when the assessment is confirmed by the body authorized to finally
  determine the amount of such assessment, and shall continue  until  paid
  or  cancelled  as  herein below provided, which lien shall have the same
  priority as a village tax.
    2. Whenever an assessment remains unpaid and is included in the annual
  tax levy, as provided in  section  5-518,  the  lien  thereof  shall  be
  cancelled  as  of  the date upon which the annual tax becomes a lien and
  the lien of the annual tax shall include the amount of such  assessment,
  with penalties.
    3.  Whenever  an  assessment  remains unpaid and is thereafter divided
  into annual installments so as to retire obligations as they mature, the
  lien thereof shall be cancelled as of the date of such division  and  at
  that  time  a  lien in the amount of the first installment shall attach,
  which  lien  shall  continue  until  cancelled  by  inclusion  of   such
  installment  in  the  next  succeeding  annual  tax  levy, in the manner
  provided above.  Subsequent installments, unless prepaid as provided  in
  section  5-518  of  this  article,  shall become liens on the respective
  anniversary dates of such division and such liens shall be cancelled  in
  the same manner.