46A-11-14. Assessments for drainage, payment in installments--Time installments due--Penalty on delinquencies.
119 words·~1 min read·
/sd/title-46/chapter-46-11/46a-11-14A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The first installment under an agreement filed pursuant to § 46A-11-13 shall be payable within ten days after a certified copy of the assessment has been filed in the office of the county treasurer. Subsequent installments shall be payable each year for one to nine years from the date of an assessment, with interest on the entire amount unpaid payable annually at maturity of each installment. Subsequent installments shall become delinquent after expiration of thirty days from the time they are payable and a penalty of five percent shall attach.
If, however, bonds have been issued for construction of the project, as provided in this chapter, assessments shall be payable in installments sufficient to meet payments on the bonds.