§ 156-126. Extension of adjusted installments. - North Carolina Statutes

§ 156‑126. Extension of adjusted installments.

Upon adjustment of delinquent installments of any assessment asprovided herein, the payment of all delinquent installments so adjusted may beextended over a period not exceeding the life of the issue of refunding bonds,but in no event over a period exceeding 20 years. Such extension shall be madeby the preparation of assessment rolls, which shall provide for the payment ofinstallments so adjusted in equal annual installments which shall become dueannually on September 1, in accordance with the original assessment, and shallbear interest at the rate of four per centum (4%) per annum from December 1following their due date until paid. Such assessment rolls shall be preparedand filed with the sheriff and the clerk of superior court and receipts shallbe prepared and the same shall be collected in the same manner as otherassessments of the district. (1935, c. 469, s. 2.)