The payment of costs of construction, repair or removal of such curbs or sidewalks or obstructions therefrom may be spread over a term of years not to exceed twelve (12) years, payments to be made in equal annual installments. Each installment shall be payable on or before January 1 of each year, and all deferred payments shall bear interest at a rate pursuant to Montana Code Annotated section 17-5-102 per annum from the date of the passing of the resolution referred to in this chapter until the final payment of the last installment. (Ord. 01-2001, 3-20-2001)