1. (a) The governing body may make an assessment only by ordinance.

2. (b) An assessment may:

   1. (1) be made payable in not more than 16 installments maturing within 15 years; and
   2. (2) bear interest at not more than eight percent a year.

Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.