(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.