Article III — Bond Plan B – District Bonds

Where bonds are issued pursuant to bond plan B, the State Improvement Bond Act of 1915 shall apply.

(Ord. 859 § 330; Formerly § 16-114)

Bonds may be issued in the total amount of all assessments in amounts of less than twenty-five dollars ($25.00), which are unpaid at such time, to mature at the same time as the maturity of the first series of such serial bonds and which assessments shall become due and payable at the same time as that portion of the larger assessments which shall have been collected for the payment of the first series of the serial bonds and the interest thereon. (Ord. 859 § 331; Formerly § 16-115)

The list of unpaid assessments filed with the City Clerk by the street superintendent shall separately state in such list the total of the assessments which are of twenty-five dollars ($25.00) or over in amount and the assessments which are under twenty-five dollars ($25.00) in amount. (Ord. 859 § 332; Formerly § 16-116)

Bonds for the amount of the assessments which are not an even multiple of not less than one hundred dollars ($100.00) nor more than one thousand dollars ($1,000.00) may be made to mature at the same time as the first series of bonds. (Ord. 859 § 333; Formerly § 16-117)