40-24-05. Water main and waterworks special assessments extended over a period of not more than thirty years

40-24-05. Water main and waterworks special assessments extended over a period of not more than thirty years. Special assessments for the payment of the cost of constructing or laying any water mains or constructing any waterworks shall be payable in equal annual amounts, or in such annual amounts as will permit the annual increase in payment of principal to approximate the annual decrease in the interest on amounts remaining unpaid, extending over a period of not more than thirty years as the governing body may fix by ordinance or resolution.