The comet. (Johnson City, Tenn.) 1884-1916, 1907-05-23
PUBLIC ACTS.
(PUBLIsHED BY AUTHORITY. J
Chapter 276-House Bill No. 500.
CONTINUED from last week.

vided, before any improvement shall
be made therein or thereon as provid
ed in this Act the city or town, by its
duly authorized officials, shall lay of
and establish the permanent profile
grade in and of the street, highway,
avenue, or alley to be improved or in
which the proposed work is to be done,
aud shall bring such street, highway,
avenue, or alley or part thereof to be
improved up or down to such perms.
nent profile grade, as the case may be,
before said improvement shall be
made, and the cost thereof shall be
borne by the city or town as hereinbe.
fore provided. The cost thereof shall
be paid out of the general funds of
said city or town or out of the proceeds
of the city improvement bonds, or out
of the special funds derived from the
special tax, not exceeding five mills
on the dollar, hereinafter authorized.
Sec 49, Be it further enacted, That
all moneys realized from the assess.
ments authorized under this Act shall
constitute a sinking fund for the pay
ment of the cost of making the i'm
provement ordered and made hereun-
der, aud shall be used and appropriat-
ed to the payment of such costs and
any bonds and interest thereon which
may be issued therefor as hereinafter
provided, and for no other purpose
whatever.
The legislative body creating such
improvement district may provide that
such levy or assessment shall be paya-
BILE in not less than five nor more than
ten equal installments; and when the
number of installments shall be deter
mined, the first installent shall become
delinquent in ninety days after the
date of such levy or assessment, and
the subsequent installments shall be-
come delinquent annually thereafter
until all are paid in full, principal aud
interest Such special levy or assess
ment shall be payable to the proper Of
fetal of said city or town to whom gen.
eral taxes are paid by the owners of the
land upon which they are made as
aforesaid at or before the time they be.
come delinquent as hereinbefore pro.
vided and III the installments provided
for by the Legislative body of said city
or town; Provided, however, that the
whole amount of the levy or assess
nent made upon or against any lot OF
parcel of land abutting on said i'm
provement district with the interes
then due, may be paid by the lot own
er at his option at the time such levy
is made, or at any installment perio(
thereafter; aud such levies or assess
ments shall also, as hereinbefore pro
vided, be liens upon the lands or lott
so assessed, and shall draw interest a
the rate of not exceeding six per cen
per annum from the time of the lev
or assessment aforesaid until the sam
levy or assessment shall be paid or be
come delinquent, whichever shall hap
pen first.
The interest on said bonds shall b
payable annually or semi-annually q
said legislative body of such city Q
town shall by ordinance determine; an
the special taxes or assessments mad
hereunder shall be made payable {
: such times and in such amounts, wit
such rate of interest, not exceeding 81
per cent per annum, as will meet ii
payments of Improvements herein col
templated, and the improvement di
trict bonds hereinafter authorized an
and interest thereon, so far rs the cos
T of such improvements is levied upC
or assessable against the lots abuttir
upon such improvement district. III
payment of the special levies or asses
ments herein provided for and the i
terest thereon may be enforced and &C
lection made after they become deli
: quent, with expenses, as the payne
of taxes is now enforced and collectiC
thereof is made in the respective citi
or towns to which this Act applies, al
= the property upon or against whI
such special levies or assessments a
made may be sold for any delinque
instalIment of such levy or assessme
oE and the interest thereon in the sal
manner aud subject to the same f
FIXTURES, certificate, right of reden
lion, aud deed or suit al law or in co
ty as in the case Of sales for ordins
IE taxes of such city or town, or IN q
other manner now or hereafter prov
- ed by law in respect thereto; Provid
} however, that upon default of for
period Of thirty lays in the paymen
uuy luStulinSnb uuu lut6ESSb bu6ft
T the entire unpaid assessment shall
nediately become due aud payat
aud the lien thereof may be foreclo
aud collection enforced by the nun
pahty as above set forth or by sui
law or in equity; Provided, also, I
It any sale of any lot upon which 81
evy or assessment is lien herein |
vided if no Que will bid the amount
ms. principal and interest and taxes, if a
due on the same, the presiding off
of the legislative body aforesaid L
q purchase said lot or parcel of land
the said city or town for the amour