The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-02-06

TIE ordinance ordering the same ana Sf2sl
therein. and the interest thereon. shah be
payabas out of the local Improvement fund
created Tor the payment OF TIE COST ana
expense OF such improvement. and nor ON
srwtee- Saca bends shall not be issued In
Any amount ia excess OF the contract prics
Q, Such Improvement
the provisions hereof may De issued TO me
contractor constructing the Improvement
in payment thereof, or the ordinance Ill
vecting the Issue of such bonds may pro-
vice tina, tire same may be sold py the city
comptroller at not less than their par val
Ne. net. and that the proceeds inerso,
shall BE- applied in payment Of the cost and
expense OF the Improvement, but II case
Of aaie Of the bonds as herein provided;
not perform any work thereon uniil such
sale has been made and the proceeds there
OF paid iEIo the city treasury.
Subdivision 4. In all cases where the
city shall issue bonds as provided herein
TO pay the cost and expense OF any local
improyensnt the raid cost and expense
shan be assessed against the lots and par
GELS OF land which under the provisions OF
Jaw and the CHARTER Of the city shah De
liable therefor: but the ordinance levying
sac. assessment shall declare that the SUN
charged thereby against each OF such lots
and parcels Of land snail be paid IN equal
annual iDstaliments. the number OF wnicn
of years which the bonds issued to pay
for the Improvement may run. with inter-
est upon the wnoie sum 50 charged Al
shall be one per centum higher than the
annual rate OF interest which the bonds
10 be issued In payment OF the cost and
expense OF the Improvement are 10 bear;
ard each year thereafter there shall be lev
led upon such lots and parcels OF land one
u such insialiments OF the whole sum
charged against the same. and such In
staIlments. together with the interest
due thereon, and on all install
be levied ard collected In the same manner
as shall be provided by law and .he char
ter and ordinances of the city for the levy
and collection Of assessments for such i'm
prov6ments In cases where no bonds are
issued
subdivision S. The owner Of any lot or
Parcel Of Land charged with any such as
sessmsnts may redeem the same from all
liability for the cost and expense OF such
Improvement BY paying the. entire assess.
iana WIthsi istersst Within ibirty days
after notice 10 him OF such asSe ssment and
the. amour, thereof. and the city comp.
charged agairrst each lot or parcel of land
is determined as Is practicable. mail 10 the
owner OF each lot or parcel OF land. a.
shown BY the assessment roll made for lev
wing the cost and expense Of such im-
provement. written or printed notice o!
such assessment and the amount charged
therein against such lot Or parcel Of Land and
owner al the city of Seattle. The bonds
herein provided for shall not be issued
prior 10 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 cos, and expense
OF such Improvement al any time after the
issuance of the bonds by paying the entire
assessment charged against such lot or
parcel remaining unpaid at the time or
rate provided in the ordinance levying the
assessment 10 the day OF payment. and
Their interest on all installments thereafter
10 mature az the rate OF one per centan
per annum for the respective periods I'M
expired on each instalIment. In all cases
where instalImentS of assessments not yet
levied are paid as above provided. whether
before or after the issuance OF the bonds.
the same shall be paid 10 the city treas
urer who shall receipt therefor. and all
sums SO paid shall be applied solely TO the
payment Of such improvements or the re-
demption of the bonds Issued therefor.
Where any piece of property has been re-
deemed from liability for the cost or any
improvement as herein PROVIDED sucn
further special assessment for the cost OF
such Improvement, except as otherwise in
this charter provided No suit to set ASIDE
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
snerlt Is aseertainsd and confirmed by the
men, shall be applied solely towards the re-
dernption OF said bonds.
Subdivision 8, The issuance OF such
bonds 10 the contractor. or the sale there
Of shall operate TO transfer to the pur-
chaser or contractor or holder thereof, all
the right and interest OF the city in respect
TO such 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 of the methods
provided by law for the collection OF as
sessments for local improvements. and. IL
afl fail ~ UyS
said bonds or TO promptly collect any OF
eaId assessments when due. the owner or
owners OF any such bonds may proceed IN
his or their own name 10 collect such as
ssssrnent 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 centum thereof. together with the costs
Of ~uch suit. Any number OF holders of
such bonds for any single improvement;
owners OF property upon which the said
bonds are n lien may be Joined as defend
ants In any such suit. Such bonds shall be
equal liens upon the property for the as
ssssment represented by such bonds. with
out priority Of ore over another. To the ex-
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 :. No 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 10y the cry or the Spe
cal assessments levied for the payment
thereof. but the remedy OF every such hold
er shall. In case Of non-payment be con-
fined 10 the enforcement OF such assess
ment. \ copy Of this subdivision shall be
plainly written, printed or engraved on
the face of each bond so issued
subdivision S. The city treasurer shall
pay TIE Interest on the bonds hereby au-
ihorlzed 10 be issued out OF the respective
local Improvement funds upon which they
.ars payable. and shall whenever there
shall ne Sufficient: money In sslch funds call
In ana pay thsrefrom the principal OF such
bonds or any OF them. Said bonds shall be
called In and paid IN numerical order.
'SuhStv sion 8 Whenever the City las
here tofoFe issued bonds for the purpose of
paying tire cost and expense Of local i'm
proVementS. or has sold such bonds aud
paid stich cost and expense from the pro-
ceeds thereof the city NAV. win the con-
scnt 81 the holders Of sach bonds ex-
change fer thesn bombs in the form pro-
yided herein.
''suhdivtsioa 10 In case any assessment
hss De = heretofore levied 20 pay the cost
ard expense or any local Improvement
whEcn iS payable TN installmentS under the
provisions Of any law or the charter or
ordinances OF the city. the same may De
paid and collected and tire property
CHARGED thereby may be redeemed from
liability thereoa % the manner provided
herein