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The council shall set forth in the assessment ordinance the schedule of installment payments for which the property owner may make application and agree to pay the assessment, with interest at the rate then authorized by section 2.022 of this code for unpaid assessments. The application shall also contain a statement by lots or blocks, or other convenient description of the real property of the applicant assessed for the improvement.

(Section 7.525 amended by Ordinance No. 19232, enacted March 12, 1984, effective September 12, 1984, and Ordinance No. 19393, enacted July 28, 1986, effective January 28, 1987.)