The payment of sewer assessments in installments shall be governed
by N.J.S.A. 40:56-35.
Pursuant to N.J.S.A. 40:56-35, the Mayor and Board of Aldermen
may establish the period of years over which sewer assessments are
to be paid when the local sewer improvement is being financed by the
sale of bonds and shall be established as follows:
A.
When the local sewer improvement is being financed by the sale of
bonds, sewer assessments shall be paid in yearly installments over
a period of years up to but in no event exceeding the period of years
for which the bonds were issued, or for 15 years, whichever is less.
B.
When the local sewer improvement is being financed through means
other than the sale of bonds, sewer assessment shall be paid in yearly
installments, not exceeding 10 years.
