(A) The Finance Director may extend the time for payment of an amount determined as a deficiency for a period not to exceed 12 months from the date designated for payment of the deficiency. An extension of this time may be granted only where it is clearly established to the satisfaction of the Finance Director that the payment of a deficiency upon the date designated for payment would result in undue hardship.
(B) If any extension of time is granted for payment of any deficiency, the Finance Director may require the taxpayer to furnish a bond or other security, in an amount not exceeding twice the amount for which the extension of time for payment is granted on such terms and conditions as the Finance Director may require.
(Ord. 1276, passed 6-29-00)