The Council, in its discretion, may determine that assessments in amounts of $50 or more shall be payable in not to exceed 10 equal annual installments; and may also determine that after 90 days after publication of notice of the recording of the assessment all such sums then unpaid shall bear interest. Such interest shall be at a rate of not to exceed six per cent per annum and shall accrue in monthly amounts on the first day of each month after the said 90 days. The Council’s determination to allow payment of such assessments in installments, the number of installments and whether they shall bear interest and the rate thereof shall be declared in either the Ordinance of Intention or by a resolution adopted prior to the confirmation of the assessments.
SECTION HISTORY
Based on Ord. No. 85,500.
Amended by: Ord. No. 108,857.