(A) When a curb and gutter, street or sidewalk improvement petition is approved and when funds are available, the Board may undertake such curb and gutter, street and sidewalk improvement, and it shall assess the abutting property owners for their proportionate share of such improvements in accordance with the assessment procedure as specified in G.S. §§ 160A-216 through 160A-238, at an equal rate per front foot.
(1987 Code, § 4-1-04)
(B) Property owners who fail or refuse to pay their assessment for curb and gutter, street or sidewalk improvements at the time the assessment becomes due shall pay their assessment in five equal annual installments and shall be charged interest thereon at the rate of 8% per annum as required by G.S. §§ 160A-232 and 160A-233.
(1987 Code, § 4-1-05)