Section 50-1765 – MAINTENANCE AND OPERATION AND SOURCES OF FUND.
50-1765. MAINTENANCE AND OPERATION AND SOURCES OF FUND. The council shall prescribe rules and regulations for the maintenance and operation of the guarantee fund not inconsistent herewith. After the creation of such fund, all money derived from the assignment of delinquency certificates, redemptions, sale of property under foreclosure for delinquent assessments, or from the rent […]
Section 50-1766 – REPLENISHMENT OF FUND — WARRANTS — ISSUANCE AGAINST FUND — TAX LEVY.
50-1766. REPLENISHMENT OF FUND — WARRANTS — ISSUANCE AGAINST FUND — TAX LEVY. Whenever there is not a sufficient amount of cash in said "Local Improvement Guarantee Fund," at any time to pay any and all warrants, together with interest thereon, drawn against said fund, the council may replenish said "Local Improvement Guarantee Fund" by […]
Section 50-1767 – BONDS AND WARRANTS — REVENUES FROM WHICH PAYABLE.
50-1767. BONDS AND WARRANTS — REVENUES FROM WHICH PAYABLE. The holder or owner of any local improvement bond or warrant shall have no claim thereon against the municipality by which the same is issued, except to the extent of the funds created and received by assessments against the property within any local improvement district and […]
Section 50-1768 – BONDS PAYABLE FROM FUND.
50-1768. BONDS PAYABLE FROM FUND. Whenever a municipality has created a "Local Improvement Guarantee Fund," under the provisions of [this act,] any local improvement district bonds issued thereafter shall provide that the principal sum of such funds [bonds] and the interest thereon shall be payable out of the local improvement fund created for the payment […]
Section 50-1769 – EXCESS IN FUND — DISPOSITION.
50-1769. EXCESS IN FUND — DISPOSITION. When a "Local Improvement Guarantee Fund" duly created in any municipality exceeds in amount of moneys held therein ten per cent (10%) of the total outstanding obligations thereby guaranteed, then the council, may, by ordinance, authorize the treasurer or appropriate official of said municipality to return and pay such […]
Section 50-1770 – UNPATENTED LANDS — ASSESSMENT FOR IMPROVEMENTS.
50-1770. UNPATENTED LANDS — ASSESSMENT FOR IMPROVEMENTS. Whenever any of the public lands are embraced within the boundaries of any city of this state, and the city authorities deem it necessary that a sewer system, street improvements or other public improvements of any kind, authorized by general law, be made therein for the preservation of […]
Section 50-1771 – RESERVE FUND AUTHORIZED.
50-1771. RESERVE FUND AUTHORIZED. For the purpose of securing the payment of the principal of and interest on an issue of local improvement bonds, notes, warrants, or other short-term obligations, the council or other governing body of a governmental entity may create a reserve fund for each obligation in addition to or in lieu of […]
Section 50-1772 – COMMERCIALLY REASONABLE CREDIT ASSURANCES.
50-1772. COMMERCIALLY REASONABLE CREDIT ASSURANCES. If requested by the petitioners for a local improvement district, and in addition to or in lieu of a reserve or guarantee requirement, the council or other governing body of a governmental entity may impose such commercially reasonable credit assurances as it may deem necessary as a condition of approving […]
Section 50-1754 – DELINQUENT CERTIFICATE NOT ASSIGNABLE DURING PENDENCY OF ACTION.
50-1754. DELINQUENT CERTIFICATE NOT ASSIGNABLE DURING PENDENCY OF ACTION. No certificate of delinquency as hereinbefore provided, shall be assigned, or any property sold, to which the municipality has taken a deed, on account of any assessment, or instalment thereof, during the pendency of any proceeding in court affecting the validity of such assessment. History: [50-1754, […]
Section 50-1739 – DELINQUENT CERTIFICATES.
50-1739. DELINQUENT CERTIFICATES. As soon as any assessment or instalment thereof, of any local improvement district shall become delinquent, the treasurer shall, if such assessment be collected in one (1) payment, mark the same delinquent on the assessment roll, or if for an instalment of an assessment, on the "Local Improvement Instalment Docket," and shall […]