The City Clerk, for good cause shown, may grant a reasonable extension of time for payment of tax or any installment, or for filing the annual return or quarterly estimate required by this article, on such terms and conditions that he may require. No such extension shall exceed six months.
The City Clerk 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 the payment of such deficiency. An extension of this type may be granted only where it is clearly established to the satisfaction of the City Clerk that the payment of a deficiency upon the designated payment date would result in undue hardship.
If any extension of time is granted for the payment of any tax or deficiency, the City Clerk may require the taxpayer to furnish a bond or other security in an amount not exceeding twice the amount of the tax or deficiency for which the extension of time for payment is granted on such terms and conditions as the City Clerk may require.
(Ord. 77-30. Passed 12-19-77.)