Ark. Code Ann. § 14-322-107: Payment generally

(a) All assessments shall be payable in the manner and within the time prescribed by ordinance of 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 assessments in installments, within the time and at the rate of interest prescribed by ordinance of the governing body of the municipality.