Any property owner not paying the tax in full at one time has the privilege of paying the same in cash installments, the number of which installments shall be determined by the governing body and which shall equal the number of years from the time the next tax is payable to the last maturity of the bonds, with interest on the unpaid installments at the same rate which the outstanding bonds bear. After any property owner has paid one or more cash installments, he may pay the balance of said tax with bonds or matured coupons as provided in section 31-21-402.
Source: L. 75: Entire title R&RE, p. 1142, § 1, effective July 1.
Editor's note: This section is similar to former § 31-21-403 as it existed prior to 1975.