In case of such election to pay in such installments, the assessment shall be payable in two or more equal annual installments of principal, the first of which installments shall be payable as prescribed by the governing body in not more than one year, with interest in all cases on the unpaid principal, payable semiannually, at a rate not exceeding six percent per annum. The number of installments, the period of payment, and the rate of interest shall be determined by the governing body and set forth in the assessing ordinance.
Source: L. 75: Entire title R&RE, p. 1265, § 1, effective July 1.
Editor's note: This section is similar to former § 31-35-508 as it existed prior to 1975.
Structure Colorado Code
Title 31 - Government - Municipal
Part 6 - Sewer Connections - Compulsory
§ 31-35-601. Owner to Be Notified
§ 31-35-602. Resolution Adopted
§ 31-35-603. Cost of Connection Ascertained
§ 31-35-604. Work Accepted - Assessment - Certified Copy Filed - Lien
§ 31-35-605. Appropriation From General Fund
§ 31-35-606. Assessments Payable - Proviso
§ 31-35-607. Payment in Installments Optional
§ 31-35-608. Installment Payments - Due Date - Interest
§ 31-35-609. Default in Payment - Penalty
§ 31-35-610. Discount for Cash Payment
§ 31-35-611. Payment of Assessments - Default - Sale
§ 31-35-612. Owner of Interest May Pay His Share
§ 31-35-613. When Collections Paid to Municipality
§ 31-35-614. Construction of Part 6
§ 31-35-615. Governing Body to Fix Rates and Charges
§ 31-35-616. Revenue Kept in Separate Fund
§ 31-35-617. Failure to Pay Rates and Charges - Lien