§ 58-11. Interest on delinquent assessments; default in payment of installment.

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All assessments made under this chapter and installments of assessments shall bear interest at the rate of one percent per month from the date when the assessment and installment respectively become due and payable. In the event of default in the payment of any installment of an assessment, all unpaid installments, together with interest thereon, shall immediately become due and payable.

(Code 1982, § 2-200)

                    
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