The Director of Finance, upon approval from City Manager, may grant a reasonable extension of time for payment of tax or any installment, or for filing the fourth quarter return or quarterly return required pursuant to this article, on such terms and conditions that he may require. No such extensions shall exceed six months.
The Director of Finance, upon approval from City Manager, may extend the time for payment of an amount determined as a deficiency for a period not to exceed twelve months from the date designated for payment of the deficiency. An extension of this time may be granted only where it is clearly established to the satisfaction of the Director of Finance that the payment of a deficiency upon the date designated for payment would result in undue hardship.
If any extension of time is granted for payment of any tax or deficiency, the Director of Finance may require the taxpayer to furnish a bond or other security, in an amount not exceeding twice the amount for which the extension of time for payment is granted on such terms and conditions as the Director of Finance may require.
(Ord. 1-7-03.)