Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1901-10-19

OF said proposed Sidewalks. within said 90
days. shall be constructed by the City, and
the whole cost thereof Except the cost of
, erading) paid for by the owners OF the lots
or parcels of land touching upon the line of
said sidewalks. in proportion to the frontage
thereof. and in case OF default in the payment
thereof. the same shall be paid by
special taxation, of the lots or parcels OF land
touching upon the line OF said sidewalks in
proportion to the frontage thereof and for
that purpose special tax is hereby levied
and assessed and ordered to be collected. up-
on the several lots or parcels of land touch
ing upon the line of said sidewalks ordered
to be constructed aforesaid in proportion TO
the frontage upon said sidewalks. and in ac-
cor2ance with the law.
Sec 5. Said special tax shall be divided
into five installments. The first of said in
staIlments shall Include all fractional
amounts and the remaining installments shall
be equal in amount and multiples of one hun
dred eco dollars. Which said first INSTALL
meut shall be due and payable on the 2nd
day of January next after the completion and
acceptance by the Board of Local Improve
ments of the work for which the tax was
levied: and the said completion and accept
ance by the Board of Local improvements OF
having been certified by said Board TO the
officer authorized by law to collect such tax;
and the remaining installments shall be pay
able in one. two. three or four years respec-
lively thereafter; which said special tax ex-
cept the first installment shall bear interest
after the said work is accepted and certified
as aforesaid. until paid, at the rate of FIVE
per cent per mum. The interest on each in
staIlment shall be paid follows. viz:-On
the 2nd day Of January next succeeding the
acceptance of said work as certified aforesaid,
the interest coupons up to that time on all
unpaid installments, shall be due and payable
and be collected with the installment. And
thereafter the interest on all unpaid INSTALL
ments. shall be payable annually and be due
and payable at the same time as installments
maturing in such year, and be collected there
with.
See. g. For the purpose of anticipating the
collection of the second and succeeding in
stallments. provided for in this ordinance
the city shall issue bonds. payable out OF said
insta llments. and bearing interest at the rate
Of Eve 90 percent per annum. payable an
nUally, and signed by the Mayor and City
Clerk: said bonds shall be issued in the sum
OF one hundredQOOl dollars multiples there
Of and shall be dated of the date when so
issued and each bond shall state on its face.
the installment out of which Il is payable and
designate the assessment to which the INSTALL
ment belongs. The principal of said bond
shall not exceed in the aggregate the amount
of such deferred installments. and shall be
divided into as many series as there are de-
ferred installments. Each series shall be-
come due at the same time I'm the year in which
the corresponding installment shall mature
Such date TO conform as near may be. to
he time when such installment will be actual
ly collected. Said time to be determined by
the municipal Office Issuing such bonds
SAID ponds SnaH Dc IN the FORM prescribed
by law and shall have interest coupons at
tached. representing the interest to become
due. Any person may pay the whole assess
ment against any lot, tract. block or parcel |
of land or any installment thereof with in |
terest up to the date of payment. at any time
before the bonds herein mentioned are issued |
but after said bonds issued the payment |
shall not be received any installment be- |
fc:e it ha matured. unless interest thereon. |
up to the 2rG day Cf the succeeding January |
Is also paid al ;he same time. On before |
January. the tenth doth OF each year the CITY /
Clerk shall ascertain the amount of said as |
sessemnt collected and applicable to the pay
ment OF bonds of each series. unmatured and /
shall select by lot. Londs Of series to such
amount To be paid Herewith. And shall give
notice in some newspaper published in the
City OF Rock Island Of the number Of bonds 1
to be paid. the series thereof. the assess
ment 10 which they relate and the particu ar
bonds, selected to be paid and that the |
same viii be paid at a place to be specified |
on the tenth u0) day OF February next fol-
lowing. And thereupon from and after the
said tenth O0 day OF February. said bonds
snail be payable at the place specified. on
demand. and no further interest shall accrue
thereon.
Sec. :. The sum of S125.OO is hereby order
I'd to be levied as part of said special tax
Tor the purpose OF paying the court costs and
other lawful expenses incident to levying the
satd tax.
Sec. 5. The City Clerk shall file a petition
In the County Court or other Court having
Jurisdiction. praying for the levying OF said
special tax.
See. .. This ordinance shall be in force
rom and after it's passage.
Passed September 10th. 1901.
Approved: Il. F. KNOX. Mayor.
Attest: II. c. SCHAFFER. City Clerk.