Ark. Code Ann. § 14-301-205: Payment

(a) The assessments on the real property in the district shall be payable to the city or town collector in the manner and within the time prescribed by the governing body of the municipality.

(b) Property owners may be given the option to pay the amount of the assessments in one (1) lump sum payment, or to pay the amount of the assessment in installments, within a time and at a rate of interest prescribed by the governing body of the municipality.