§ 2.6. Payment of contractor.

The ordinance assessing the cost of the improvements against the property benefited by the improvements shall provide that the assessments shall be payable in three (3) equal annual installments with interest at the rate established by the Council from the date of the adoption of the assessing ordinance. The owner of property assessed with the cost of improvements may pay the full assessment without interest within thirty (30) days from the date of the adoption of the assessing ordinance, or may pay any unmatured installment of an assessment by paying the same together with interest to the next installment due date. Such assessments shall constitute liens against the property until paid.

After the completion and acceptance of the improvements, the Council shall deliver to the contractor any payments of assessments and shall issue and deliver to the contractor in payment of the balance of the total cost of the improvements special sidewalk, driveway return, and curb tax bills. The contractor shall pay to the city the engineering fee and other expenses incurred by the city. The form of the tax bill shall be established by the Council.