§ 37-13-126 — Advance payment of assessment installations

The governing body, in the resolution levying the assessments,
may provide that all unpaid installment assessments levied
against any property may be paid, but only in their entirety,
prior to the dates on which they become due if the person paying
the installments pays all interest which would accrue thereon to
the next succeeding date on which interest is payable on the
bonds issued in anticipation of the collection of the
assessments. In addition, the person must pay the additional
amount of interest as in the opinion of the governing body is
necessary to assure the availability of money fully sufficient
to pay interest on the bonds as interest becomes due, and any
redemption premiums which may become payable on the bonds in
order to retire, in advance of maturity, bonds in a sufficient
amount to utilize the assessments thus paid in advance. If no
bonds have been issued then all unpaid installments of
assessments levied against any piece of property may be paid in
their entirety prior to the date upon which they become due by
paying the principal amount due and the interest accrued thereon
to the date of payment.