(a) All assessments made pursuant to Articles 8 through 14 of this chapter shall be due and payable within 30 days after the date of the effective date of the ordinance fixing such assessments. Any assessment may, at the election of the owner of the land assessed, be paid in installments with interest, at such rate or rates, or in accordance with such method of determining the rate or rates, as may be established by the council. Failure to pay the whole of any assessment within the period of 30 days shall be conclusively considered an election on the part of all persons interested in such assessment, whether under disability or otherwise, to pay in installments.
(b) All persons so electing to pay in installments shall be conclusively considered to have consented to the improvement and the assessment therefor. Such election shall be conclusively considered as a waiver of any and all right to question all power or jurisdiction of the city to make the improvement, the regularity or the sufficiency of the proceedings or the validity or correctness of the assessment. However, such waiver shall not apply to any person who has properly filed an action in court, challenging the power or jurisdiction of the city to make the improvement within 30 days after the effective date of the ordinance fixing the assessments.
(Sec. 24-4.3, R.O. 1978 (1987 Supp. to 1983 Ed.)) (1990 Code, Ch. 14, Art. 26, § 14-26.3) (Am. Ord. 90-91)