Assessments shall be due within 30 days from presentation and notification of the assessment; but the property owners shall have the privilege, on giving written notice of the intention, to pay one-fourth thereof in cash and to give notes for the balance for payment of the assessments in installments. The notes shall provide that if all installments are paid before maturity, only interest accruing to date of payment shall be collected.
(Prior Code, § 4-1012)