The comet. (Johnson City, Tenn.) 1884-1916, 1907-05-23

said levy or assessment, with interest
and all taxes due thereon, subject to
be redeemed as in case of ordinary sale
for taxes. But this section is not in
tended to restrict or interfere with the
jurisdiction of the Chancery court to
decree the sale of such lots or parcels
of land, with improvements thereon, if
suit be brought in such courts to fore
close said liens on credit Of six months
and in bar OF the equity of redemption
as in the case of ordinary liens on real
estate.
Sec. 19. Be it further enacted, That
for hepurpose of making and complet-
ing any improvements authorized by
this Act when necessary tofully com
pete and finish any permanent inn
provement when the same is made at
the intersection of any street, highway
avenue, or alley, or spaces opposite al.
leys, or iu front of any city property or
other property exempt from special
taxation, or for the cost of grading or
any other cost in this Act provided to
be borne by the city,or town, also to
pay the one-fourth part or share of the
cost of improvements made incumbent
uponsaid city or town by this Act, said
city or town shall have the power, and
is hereby authorized, to issue city i'm.
provement bonds to pay the part or
share of the costs and expenses of and
for the said Improvement enumerated
in this Act, which, by this Act, is in
cumbent on said city or town to pay as
above set forth. Said bonds, when is
sued, shall bear interest not to exceed
six per cent per annum, payable annu-
ally or semi-annually as the Legislative
body of such city or town may determ-
J inc at or before the date OF issuance OF
said bonds, said interest to be evidenc
ed by interest coupons attached to SAID
bonds and shall run for period not tC
exceed twenty years at the option O
the city, and shall not be sold for lest
than their par value. The amount o
money realized from the sale of sale
bonds shall be used for no other pur
pose than for paying the part or thar,
of the cost of said improvements whicl
it is incumbent on said city or town t.
pay as hereinbefore set forth; Provid
ed, that if there be any surplus lef
over of the money so obtalned afte
: paying said part or share Of said cost
: the legislative body of said city 0
town may cover said surplus into it
. treasury and place the same in its gen
Il eral funds.
3 Said city improvement bonds sha
. be for such denomination and amour
j. of not less than one hundred nor NOR
l. than one thousand dollars each as th
/ legislative body of said city or tow
/ may determine by ordinance at or bt
IL fore the date of issuance. They sba
Il be executed by the Mayor and Recort
% er or other presiding officer aud Cler
u or Register and under the seal Of sai
u CITY or town, aud shall recte on the
y faces that they are issued pursuant
~ this Act aud to an ordinance OF sal
l' CITY or town authorizing their iss
10 ance They shall also recite by nur
T. Der and description for what improv
p mept district they. We're issued al
u what character OF Improvement in. sa
ry district they were issued to pay fc
ly They shall also recte their date OF
o. suance, date of maturity, the fact ia
o' a special tax has been authorized to
ne levied to create a sinking fund for the
OF payment, and such other matters
on law or fact as said legislative body
NJ such city or town may determine to
le, essential to protect the respective
ea terests of the city or town and the pl
Oh chasers of said bonds.
at Sec. 30, Be it further enacted, II
la' the city improvement bonds issued
eh provided by this Act shall be paid,
ro- terest and principal, at maturity out
OF the fund to be provided as hereinaf
ly specified. Said legislative body of s
GER city or town creating an-improvem
lay district under the provisions of t
for Act shall, notwithstanding any of
Of charter provisions, restrictions, or i