(1) The amount of the taxes herein provided for shall be annually extended upon the tax books of the county, or counties if the project area is situated in more than one (1) county, and collected by the collector of the county along with the other taxes. For his services in making this collection, the collector shall receive a commission as is provided by law.
(2) The collections shall be by the collector paid over to the board of directors at or before the time that he is now required to make settlement with the county treasurer for general taxes.
(3) The collection of taxes levied hereunder, the proceedings for the collection of delinquent taxes, and the periods of redemption from sales for foreclosure of tax liens shall be in accordance with §§ 14-125-707 and 14-125-708.