(70 ILCS 2605/14) (from Ch. 42, par. 334)
Sec. 14.
When any assessment is made under this act, the ordinance
authorizing such assessment may provide that it be divided into equal
annual installments, not more than twenty in number, and fix the amount and
time of payment of each installment, and that the installment shall bear
interest at a rate not exceeding six per cent per annum, payable annually,
from the date fixed in said ordinance, and the several installments and
interests thereon may be collected and enforced, as they shall become due,
in the manner provided for the enforcement of assessments under said
Article 9. No more of any assessment need be returned or certified to the
county collector than will show the amount due and unpaid at the time of
such return, and no sale of any parcel of land for any installment of an
assessment shall discharge the premises from any subsequent installment of
the same or any other assessment. Any one or all of the installments may be
paid any time after the assessment is confirmed, with accrued interest, if
any, to the date of payment.
(Source: Laws 1889, p. 125.)
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