The owner of any tract of land, against which a tax bill has been issued, may, not later than sixty (60) days after the issuance of the tax bill, enter into an agreement with the city to pay the tax bill in ten (10) annual installments. Each payment shall be in an amount equal to one-tenth (1/10) of the unpaid balance of the tax bill, together with all accrued interest. If any installment is not paid when due, the balance shall be then due and payable in full, together with all accrued interest. Prepayments may be made without penalty.

(Ord. No. 13929 § 1, 1-18-94)