7-14-2745. Mode of payment of assessment -- installment payments. (1) Installment payments must be made in six equal portions, in 1, 2, 3, 4, 5, and 6 years.
     (2) Payments must be in the form of bonds that draw interest, not to exceed the limitations of 17-5-102, per annum from the date they are issued until they are paid.
     (3) If the mode of payment is to be by installments, the board and the committee shall approve and certify the assessment register.
     (4) The board shall, at the time of levying the assessment and in the order setting the levy, declare that the sum charged against each parcel of land may be paid in equal annual installments with interest upon the whole sum at the rate fixed by the board of county commissioners in accordance with law. The order must specify the number of installments, which must be equal to the number of years for which the bonds may run.
     (5) Each year, the treasurer shall collect one of the installments, together with the interest due on that installment and the interest due on the future installments.
     (6) Provisions concerning delinquency and the sale of land set forth with relation to the mode of immediate payment are applicable to installment payments.

     History: (1), (2)En. Sec. 5-418, Ch. 197, L. 1965; Sec. 32-3118, R.C.M. 1947; (3) thru (6)En. Sec. 5-421, Ch. 197, L. 1965; amd. Sec. 27, Ch. 234, L. 1971; Sec. 32-3121, R.C.M. 1947; R.C.M. 1947, 32-3118(part), 32-3121; amd. Sec. 6, Ch. 500, L. 1981; amd. Sec. 1, Ch. 11, L. 1983; amd. Sec. 23, Ch. 370, L. 1987; amd. Sec. 30, Ch. 27, Sp. L. November 1993.