(a) After receiving or issuing the findings required by Section 3001.210(c), the board by order:(1) shall:(A) impose the assessment as a special assessment on the property; and(B) specify the method of payment on the assessment; and(2) may:(A) amend a proposed assessment for any parcel;(B) require an assessment to be paid in periodic installments, including interest;(C) require an interest charge or penalty for a failure to make timely payment; or(D) charge an amount to cover a delinquency or collection expense.(b) If the board orders that an assessment may be paid in periodic installments, the installments must:(1) be in amounts sufficient to meet the annual costs of the project or service for which the assessment is imposed; and(2) continue for the number of years required to retire the indebtedness or pay for the project or service for which the assessment is imposed. Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.