§ 13.14.180. Payment of assessments and liens—Installments.

A.

The board may authorize, by motion, that the payment of any assessment of more than $50.00 may at the assessee's option be made in not to exceed 10 annual installments; provided, however, that installment payments shall not be permitted where the assessment is $50.00 or less.

B.

The first installment shall be paid on or before the 30th day after confirmation of the city engineer's report. Subsequent installments and interest shall be paid on or before the successive anniversary dates.

C.

The unpaid balance of the assessment shall bear interest at the rate of 7 percent per year.

D.

If any installment is not paid on or before the anniversary date, the entire unpaid balance of such assessment shall become due and payable immediately.

(Ord. 4872 § 11, 1968)