Municipal council to give notice to persons liable to payment of betterment fee

When the amount of the betterment fee payable in respect of land in the area comprised in the scheme has been determined under section 161 or 162, as the case may be, the municipal council shall, by a notice in writing to be served on all persons liable to such payment, fix a date by which such payment shall be made, and interest at the rate of four per cent per annum upon any amount outstanding shall be payable from that date.