Sec. 29. (a) At the time the municipal works board determines the amount of the assessments, the municipal works board shall also determine the following:
(1) The manner in which the municipality shall pay the municipality's assessment, if any.
(2) The number of monthly or annual installments over which the other assessments will be paid.
(3) The maximum rate of interest on the installments, which may be equal to or greater than the interest rate on bonds issued under section 30 of this chapter.
(b) The works board shall certify the determination under subsection (a) to the municipal fiscal officer. This certification must accompany the assessment roll.
As added by P.L.98-1993, SEC.9. Amended by P.L.62-2001, SEC.9.
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