In case of an election to pay an assessment in installments made pursuant to § 14-16.6, payment shall be made within 30 days of the date of notice of payment. Interest shall be paid on the unpaid principal at a rate not exceeding 10 percent per year. The rate of interest shall be determined by the council.
(1990 Code, Ch. 14, Art. 31, § 14-31.7) (Added by Ord. 88-97)