RS 3657 - Installment payments
If the amount of the assessment is not paid within ten days, as provided in R.S. 33:3656, it will be conclusively presumed that any property owner whose property is affected thereby, exercises the right and option, which is hereby authorized, to pay the amount due in equal annual installments, bearing interest at a rate not exceeding six per cent per annum, payable annually, and extending over a period not exceeding ten years, all as may be provided for in the ordinance levying the local or special assessments. The first installment shall become due on December 31 of the then current year, and annually thereafter. Failure to pay any installment or interest thereon when due shall ipso facto cause all other installments and interest thereon to become due and payable and the municipality shall within thirty days from date of such default, proceed against the property for the collection of the total amount due thereon, including interest, plus ten per cent additional on principal and interest, unpaid as attorney fees. A certified copy of the ordinance, levying the local or special assessments on the real estate shall be filed with the clerk of court in the parish in which the municipality is situated, who shall forthwith record the same in the mortgage records of the parish, and when so filed and recorded, shall operate as a lien and privilege against all real estate therein assessed.
Amended by Acts 1967, No. 117, §2.