7-14-4721. Assessments converted to bond liability. (1) The treasurer, at the time he certifies the list of unpaid assessments to the clerk, shall write the word "certified" on the record of the assessment opposite each assessment included in the list, and thereupon all assessments of $25 or over shall cease to be payable in cash and shall thereafter be payable only in equal annual installments on December 1 in each year preceding January 1 on which the bonds become due. The governing body may provide a plan whereby the annual installment may be collected in partial payments prior to the time the installment is due, and the lien of each assessment on the property assessed shall continue and remain in full force and effect for 2 years after the last installment on the assessment becomes due or until the assessment is fully paid.
     (2) The number of installments in which the assessment is payable shall correspond to the number of years in which there are bonds to be paid, but the total number of installments shall not exceed 25.

     History: En. 11-2214.3 by Sec. 4, Ch. 136, L. 1967; R.C.M. 1947, 11-2214.3(a), (c).