State Codes and Statutes
Statutes > Missouri > T15 > C243 > 243_553Installments payable, when.
243.553. The payments of such installments, and suchinterest charge and the payments thereof, shall be as follows:
(1) If such order is made on or after the first day ofJanuary and before the first day of November of any year, thefirst installment shall be payable on the thirty-first day ofDecember following the date of such order, with interest on theprincipal, at the rate of six percent per annum, from the date ofsuch order until the first day of April after the date suchinstallment becomes payable, and one installment shall becomepayable on the thirty-first day of each December thereafter withinterest at such rate on the portion of the principal thenunpaid, from the thirty-first day of the previous December untilthe first day of the following April, until the entire assessmentis paid.
(2) If such order is made on or after the first day ofNovember of any year, the first installment of such specialassessment shall be payable on the thirty-first day of Decemberof the next year after the date of such order, with interest atsuch rate on the principal from the date of such order until thefirst day of April after the date such first installment becomespayable, and thereafter an installment shall be payable on thethirty-first day of each December, with interest at such rate onthe principal then unpaid, from the thirty-first day of theprevious December to the first day of the following April, untilthe entire principal of the assessment is paid.
(L. 1993 S.B. 56 § 243.550 subsec. 3)
