Texas Transportation Code - Section 315.070. Installments
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Texas Laws > Transportation Code > Texas Transportation Code - Section 315.070. Installments
§ 315.070. INSTALLMENTS. (a) The governing body may
order the assessments payable in not more than six installments and
prescribe the amount, time, and manner of payment of the
installments.
(b) The last payment may not be deferred beyond the fifth
anniversary of the municipality's acceptance of the completed
lighting improvement.
(c) The ordinance shall prescribe the rate of interest, not
to exceed seven percent a year, to be charged on deferred payments.
(d) The ordinance may provide for the maturity and
collection of all deferred payments on the default of an
installment of principal or interest.
Acts 1995, 74th Leg., ch. 165, § 1, eff. Sept. 1, 1995.
Section: 315.063 315.064 315.065 315.066 315.067 315.068 315.069 315.070 315.071 315.072 315.073 315.074 315.075 315.091 315.092
Last modified: August 11, 2007
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