Sec. 38. (a) If a property owner appeals the assessment made against the owner’s property to the circuit court or superior court, the clerk of the court shall certify the judgment of the court to the unit’s disbursing officer. The disbursing officer shall immediately notify the property owner of the amount of the assessment fixed by the court.

(b) The property owner has thirty (30) days from the date the notice is sent to:

(1) pay the assessment in cash; or

(2) elect to pay the assessment in installments by entering into an agreement under section 36 of this chapter.

(c) The unit shall then issue bonds in the amount of the assessment fixed by the court. The bonds must bear the date of the final acceptance of the work.

(d) The assessment bears interest as follows:

(1) From the date of the final acceptance of the work.

(2) At a specified rate per year that is not less than the interest rate specified for installments under section 36 of this chapter.

As added by P.L.98-1993, SEC.7.