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Said assessment shall be payable to the town in equal annual installments for a period not exceeding 20 years, (or the repayment term of any bonds or notes utilized to finance same, whichever may be greater), with interest thereon, if any, at a rate to be determined by the Town Council not exceeding 6% per annum or the interest rate payable on any bonds or notes issued to finance same whichever is greater, payable at such time as each installment becomes due. Any property owner shall have the right to prepay unpaid installments with interest to time of prepayment.
(Ord. passed 7-21-03)