Beverly banner. [volume] (Beverly, N.J.) 1877-1964, 1890-06-14
CHAPTER CLXXXII.

An Act relating to assessments i'll cities
of the third class of this state.
/. Be it enacted by the Senate and
General Assembly of the State of New
jersey. That whenever any assessment for
benefits from any improvement heretofore
done by order OF the corporate authorities
of any city of the third class of this state,
or any board of department thereof, shall
be hereafter ratified and confirmed, it
shall be lawful for the board of finance
in each city, or in absence of such board
then the board of aldermen, common
council, or other legislative body of any
such city, if by resolution passed by the
votes of at least three-fourths of all the
members Ofsuch board, common council
or other legislative body of any such city
it shall determine to accept from the
| parties so assessed and in lieu of a cash
payment bonds for the settlement of such
assessment, then the parties so assessed
may within thirty days from the passage
of such resolution, and by paying interest
on said assessment from the date of the
confirmation thereof to the date of enter
ing into such a bond, or the interest which
shall have accrued on said assessment
may be included in the principal of such
bond, deliver to said city such a bond
made payable to the city treasurer and
entered into by the owner or owners of
the property assessed, conditioned for the
payment of such assessment in five years
from the date of said bond by paying
twenty per centum of the amount of said
assessment each and every year with in
terest upon the amount ofsaid assessment
or such part thereof as many remain I'M
paid, at the rate of six per centum per
annum, payable annually.
2. And be it enacted, That the bond en-
tered into as aforesaid shall be forthwith
filed in the Office ofthe city treasurer, and
when so filed shall be recorded in a book
or books of assessment bonds, and the
said bond or certified copy of the record
thereof, under the hand and seal of the
city treasurer, shall be conclusive evidence
in any court of the contents of the
same and Of the legality of the assessment
for which the said bond was given and of
all the proceedings in relation thereto up
to and including the date thereof.
3. And be it enacted, That in case the
owner or owner of any land or real estate
assessed for any improvement shall ne
glect or fail to pay the amount of the
assessment, with interest as aforesaid, or
to give the bond required within thirty
days IRON the passage of such resolution
as aforesaid, then such assessment shall
bear interest at the rate of ten per centum
per mum until paid, and said land and
real estate shall be sold as provided for
the sale oflands for unpaid assessments
for the amount of such assessment, with
Infaract nc ohAyn ofntn1 oNof, aud NV
penses and in case any installment of a
bond which shall have been given for an
assessment as aforesaid, or any interest
thereon, shall not be paid according to
the terms thereof, the whole amount of
said bond unpaid shall become immedi-
ately due and payable, and interest shall
be charged thereon at the rate of ten per
centum per annum from the date of its be-
coming due until paid: said land and
real estate shall be sold in the manner
provided for the sale of lands for unpaid
assessments for the amount of such assess
ments, with interest as above stated, costs
and expenses and the amount thus due
on the bond, for collection of which the
sale has been made, when paid, shall be
credited on the bond, which shall be held
by the city until the same is paid in full
and extinguished provided, that the re-
ceiving said bond shall in nc way affect
or impair the lien of said city upon the
land and real estate assessed during the
the time said obligation shall continue
in force and unpaid, and during said time
sale may be made upon default as afore-
said.
4. And be it enacted, That all acts and
parts of acts inconsistent with this act, be
and the same are hereby repealed, and
that this act shall take effect Immediate
ly.
Approved May 5, 1890.