The assessments shall become a lien upon the respective parcels of land and shall be collected in the manner provided by law for the collection of local improvement assessments and shall bear interest from the date of the approval of the assessment thereon at the rate as provided by ordinance. [Ord. 2211 § 1, 1980; Code 1970 § 12.08.080; Code 1954 § 9-4.32.]