The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-02-03

saca denominations as shah hs provided
n he ordinance ordering their issue and
seeeIFe1y. and each 6oad and coupon shall
- ~z1lsd ~ ta.e Nasnr ana AtxcSssa o.
ne city comptroller. and each bond shall
and saa- refer 10 the Improvement 10 pay
Ior Wlica TIE same shall ~ issued and
Iae 9gcInance ordering The same. and shall
pIcelae tnat The principal sum named
taersIn. and the interest thereon shah re
pS9aSae OUT OF the local Improvement fund
Ssasso Ter tee payment OF the Sos; ana
expense Of sGcA improvement. and not OH
eE@lse- Suca bonds shall nor be issued in
snS amount IN excess OF the contract price
Q! such Improvement.
Subdivision ). The Honss Issued under
TIE provisions hereof may ee issued 10 the
contractor constructing the Improvement
rectlak the issue OF sach bonds may pro
VIDE taas the sael,e may he sold by the city
comptroller at not less .3an their par Nai-
ae. let. and that the proceeds thereof
sn~is oe Applied N payment Of tae cost ana
ex,rhse or the Improvement. but IN case
OF sale Of the bonds as herein provided,
hei perform any work thereon until such
sale mas been made and The proceeds there
OF paid into the city treasury.
subdivision 4. In al eases where the
city shall issue bonds as provided herein
20 pay the cost and expense Of any LEGAL
Improve rnent the said cost and expense
snaa De assessed against the lots and par
Gels or land which under tue provisions Of
Jaw and the caartep OF the city shall ee
4a3ole therefor, but the ordinance STyt3g
such assessment shall declare that the sum
charged thereby agains. each Of such lots
and parcels of land shall be paid IN equal
annual instaltznents, the number OF which
Instruments snail be equal 10 the namesr
OF years which the bonds issued 10 pay
for the Improve ment may run. with Inter
est upon the whole sum charged at a
rate 70 De liked ny said ordinance. which
shall oe one per centum higher than the
annual rate of interest which the bonus
10 De Issued in payment OF The cost and
N.aHkr
ana each year thereafter there shall be lev
led upon such lots and parcels OF land one
OF such lnstallments OF the whole sum
charged against the same. and sucn IN
staliments. together with the interest
due thereon and on all INSTALL
ments thereafter 10 beeome due. shall
be levied and collected In the same manner
shall be provided by law and ,ae char
ter and ordinances Of the city for the levy
and collection OF assessments for sucn I'M
provements in cases where no bonds are
issued
Subdivision 5. The owner OF any lot or
parcel of land charged with any such as
sessments may redeem the same from all
liability for the cost and expense of such
Improvement by paying the entire assess
ment charged against such lot or parcel of
land without interest, within thirty days
after notice 10 him Of such assessment and
the amount thereof. and the city comp
troller shall as soon after the amount
charged against each lot or parcel OF land
Is determined as Is practicable mail 70 the
owner OF each lot or parcel or land. az
shown by the assessment roll made tor lev
ying the cost and expense Of such i'm
provement a written or printed notice or
such assessment and the amount charged
therein against such lot or parcel or land.
owner al the city of Seattle. The bonds
herein provided for shall not be issued
prior to the expiration OF the thirty days
above mentioned but may be issued at any
time thereafter The owner Of any such
lot or parcel Of land may redeem the same
from all liability for the cost and expense
of such Improvement at any time after the
issuance Of the bonds by paying the entire
assessment charged against such LOT or
parcel remaining unpaid at the time OF
such payment with Interest thereon ar the
rate provided In the ordinance ievying the
assessment to the day OF payment. and
he shall also pay. IN addition thereto. fur
Their interest on all installments thereafter
to mature az the rate of one per centum
per annum for the respective periods I'M
expired on each installment. In a.. cases
where iGstallme nts of assessments not yet
levied are paid as above provided, whether
before or after the issuance of the bonds.
the same shall be paid TO the city treas
sums so paid shall be applied solely 10 the
payment of such improvements or the re-
demption of the bonds issued therefor.
deemed from liability for the cost OF any
Improvement as herein provided, such
properly shall not thereafter be liable for
further special assessment for the cost OF
such Improvement, except as otherwise IN
this charter provided No suit to set aside
the said special assessment or 70 enjoin the
making OF the same shall be brought, nor
any defense 10 the validity thereof be al
lowed after the expiration OF thirty days
from the time the amount due on each lot
or piece OF ground liable for such assess
ment Is ascertainsd and confirmed by The
council. The funds raised by such assess
ment shall be applied solely towards the re-
demption OF said bonds.
.'Subdivlsion 6. The issuance Of such
bonds to the contractor. or the sale there
OF. shall operate TO transfer TO the pnr,
RI n Hr n
the right and interest Of the city In respect
TO saich assessment and the Hen thereby
created subject TO the right OF redemption
herein provided. and shall authorize the
holder or holders thereof TO receive. sue
for and collect or have collected such bond
or bonds by or through any az the methods
provided by law for the collection OF as
seSsments for local improvements and. II
the city shall fail, neglect or refuse 70 pay
said bonds or TO promptly collect any or
said assessments when due. the owner or
owners Of any such bonds may proceed in
his or their own nesne 10 collect such as
sessment and foreclose the lien thereof in
any court Of competent jurisdiction. and
shall recover IN addition TO the amount of
his or their bonds and interest thereon. five
per eentum thereon tosetner Wild ne costs
such bends for any single improvement
may Join al plaintiffs. and any number OF
owners OF property upon which the said
bonds are a lien may be Joined as defend
ants In any such suit Such bonds shall be
equal liens upon the property for the as
HersSmerf represented by SDrn bcndS. Win
out priority Of one over another, 10 the eN-
tent only however. Of the several assess
ments made and not redeemed from against
the several lots and parcels OF land In the
assessment district.
Subdivision T. Ne holder OF any such
bond shall have any claim whatever there
FOR against the city In any event. except
20 receive from the city his proper share
Of collections made by the city OF inc spe-
ciai assessments levied for the payment
thereof but the remedy Of every such hold
er shall. IN case of non payment, be con-
fined TO the enforcement Of such assess
ment. A copy Of this subdivision shall he
plainly written. printed or engraved on
the face of each bond SO issued
Subdivision :. The city treasurer shall
pay the interest on the bonds hereby au-
ihorized 10 be issaed out OF the respective
local Improvement funds upon which they
are payable and shah whenever there
shall be sufficient money in sucn funds call
in and pay therefTom the principal OF such
bonds or any Of them. said bonds shall be
called in and paid IN numerical order.
''snbdiVl sion = Whenever the city aaS
heretofore issued bonds for The purpose Of
paying the cost and expense OF local M
prove m ats or has S0ia s3ch BONDS ana
paid such cost and expense from the pro-
eeeds thereof the city may. with the con-
sent Of the holders OF suca bends, ex-
change for thesn bonds Ia tbs form pro
viGed herein.
Subdivision n IN case any assessment