(70 ILCS 2105/22) (from Ch. 42, par. 405)
Sec. 22.
When any special assessment is made under this Act, the
ordinance, authorizing such assessment may provide that the entire
assessment and each individual assessment be divided into annual
installments, not more than twenty in number. In all cases such division
shall be made so that all installments shall be equal in amount, except
that all fractional amounts shall be added to the first installment so
as to leave the remaining installments of the aggregate equal in amount.
The said several installments shall bear interest at the rate of not to
exceed six per cent per annum; both principal and interest shall be
payable, collected and enforced as they shall become due in the manner
provided for the levy, payment, collection and enforcement of such
assessment and interest, as provided in Article 5 of the
"Illinois Drainage Code", approved June 29,
1955, as heretofore and
hereafter amended.
(Source: P.A. 81-862.)
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