The whole or any part of any such assessment may be paid during the period of sixty days from the date of confirmation of the special assessment roll without interest or penalty. Not later than fifteen days after the end of said sixty-day period the Treasurer shall transmit such roll to the Assessor or assessing officers with all payments upon assessments noted thereon. The Assessor shall then divide any remaining balance of each assessment into such number of equal installments as shall have been fixed by the Council, provided that if such division operates to make any installment less than ten dollars ($10.00), then the Assessor shall reduce the number of installments so that each installment shall be above and as near to ten dollars ($10.00) as possible.
(1981 Code § 1.166)