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If on the first day of January of any year two installments of any local improvement assessment are delinquent, or if the final installment thereof has been delinquent for more than one year, the city shall proceed with the foreclosure of the delinquent assessment or delinquent installments by proceedings brought in its own name in the Superior Court. The proceedings shall be commenced on or before October first of that year, as provided in RCW 35.50.030.