(A) Special assessments may be paid to the Village Treasurer at any time prior to the due date set forth in the resolution establishing the assessment in the actual amount levied, without interest or collection fees.
(B) All special assessments remaining unpaid on the due date shall be placed on the tax roll and shall be collected by the Village Treasurer in the manner set forth in the Village Charter.
(C) All special assessments in excess of $250 for any one project may, at the option of the property owner, be paid in five equal annual installments upon written notice being given to the Village Clerk prior to the due date of the year in which the assessment is levied. The first annual installment shall be due and payable on the due date of the year in which the assessment is levied and the remaining four installments, together with not less than 6% interest on all unpaid amounts, shall be due and payable on the due date of each year thereafter; provided, however, that the unpaid balance may be paid at any time upon the election of the property owner, in which case the interest shall be prorated thereon.
(1992 Code, § 123.007) (Ord. 1-57, passed - - 1957)