Any assessment placed upon the tax duplicate for the cost of the sidewalk repair or replacement may be paid by the property owner in a lump sum or in five (5) equal annual installments, provided that whenever the unpaid balance of any assessment is one hundred dollars ($100.00) or less, it shall become fully due and payable upon the issuance of the next succeeding tax duplicate. Simple interest at four percent (4%) per annum shall accrue on the unpaid balance of any installment until paid in full. Upon proof satisfactory to the City Manager that the amount of the required installments will impose a significant economic hardship upon the property owner, the City Manager may authorize a longer repayment period not to exceed ten (10) years.
(Ord. 21-38AC CMS. Passed 6-21-21.)