The Montgomery advertiser., 1907-03-16

ulNtnEu ut buCh HSWGT or HEW1EHt AV provide that the same shall be paid in cash within thirty days after the final assessment, provided, the cost of such improvement does not exceed one thous- and dollars, but if the total cost of said improvement is greater than such sum. any property owner may, at his elec- tion, to be expressed by notifying the city official charged with rne duty Of collecting such assessments in writing within thirty days after ,he assess ment is made final. pay the said as- sessment in ten Q0) equal annual in- stallments, which shall bear interest at not exceeding eight per centum (S per centum) per annum. payable annu- ally. Any person may pay tho whole assessment against any lot or parcel of land within thirty days from the time the assessment is made; and he shall have the right at any installment period to pay the assessment in full, by paying the amount of the in- stallments, together with all accrued interest thereon, and upon the payments of an additional sum equal to six months interest at eight per centum (S per centum) per annum on the amount of said assessment so paid be- fore maturity a penalty; should the property owner desire to pay off the deferred installments between the dates on which they are due, he snail pay in- IeItSI OH InG uutll lne Sd1NtbN- ing installment period, and together with the penalty above described. The first installment shall be payable with In thirty days after the assessment Is made final, and all assessments or in stallments thereof shall be payable at the office of the clerk, tax collector or treasurer of the city or town. as the mayor and aldermen may prescribe, and all assessments of installments thereof shall bear interest at nov exceeding eight per centum {S per cvntum) per annum after the expiration of thirty days from the date on when the same is made final; which interest shall be due and payable at the time and place the assessment or installment Is due and payable. In all eases where the property owner does not elect to pay in installments, or having elected to pay in installments, fails to Day the first installment in thirty days from the date of the assessment. he shall be held to have waived the right to pay in installments and the entire assess ment shall at the expiration of said thirty (30) days become due and pay able.
 Sec. 14. That if the property owner who has not elected to pay his instali- ments, fails to pay his assessment with In thirty (30) days, or having elected to pay in installments. rails to pay the first installment in thirty tso) days from the date of the assessment or make default in the payment of any annual installment or the interest thereon the whole of such assessment shall immediately become due and pay+ able, and the oancer designated by the mayor and aldermen to collect such as- sessments shall proceed to sell the property against which the assessment is laid to the highest biduer for cash; but he shall first give notice by publi- cation once a week for three t3) con- secutive weeks in some newspaper pub iished in the city or town Jr of gen eral circulation therein. of the date and time of such sale. and the purpose for which the same Is made. together with d description of ths property to be sold. But any property owner, not withstanding his, default, may pay the assessment with interest and all costs if tendered before a sale of the prop erty. The cost of such advertisement and sale shall constitute a charge against the property to be sold and shall be retained out of the proceeds of the sale. And the otficer making such sale shall execute deed to the purchaser, which shall convey all the right title and interest which the par ty against whose property the assess ment is made, had or held in said prop erty at the date of making such as-
 
 sale. Any surplus arising from said sale shall be paid into the city treas ury, to be kept as separate fund by the treasurer for the owner upon the responsibility of his official bond. The mayor and aldermen may by It's agent purchase real estate sold as provided under this section, and in the event of such pmrchase the deed for the same shall be made to the town or city. Such property may be redeemed by the owner, or his assigns or o.her person authorized to redeem property sold for taxes by the State of Alabama, within two years from the date of the sale by paying to the purchaser or the city treasurer for him, the amount for which the property was sold with interest thereon at the rate of fifteen (15) per centum per annum from the date Of sale together with a fee of five dollars for the expense of a conveyance. No mistake in said publication in the de7 scr!ption of L. property, or in the name of the owner shall vitiate the as- sessment of the lien, and If, for any reason. the sale made by the city or town shall be intellectual to pass title, it shall operate as an assignment or the lien, and upon the request of the purchaser supplementary proceedings of the same general character as here in required may be mad to correct the errors in said proceedings for his ben- eft. or the lien so assigned toNhim may be enforced in equity
 Sec 15. That for the purpose of providing funds to pay the cost of any improvement authorized to De made un- der the provisions of this act, the may or and aldermen of any city or town or other municipality may, before the contract is let for such improvement issue bonds within the limitations pre- scribed by the Constitution, in such amount as may be necessary, not to exceed the total cost of the improve ment as estimated by the city engi- neer, or other person appointed by the city or town to make the preliminary surveys and estimates for such im- provement. Provided, however, that the mayor and aldermen may borrow money on the faith and credit of the city or town executing the note of the city or town there for, and pledgng as sccurity for such loan the proceeds of the proposed assessments co be there- after made as provided in this act, and such sum or sums so borrowed the mayor and aldermen may advance for the construction of such Improvements, and after the. compl ton thereof; and upon the expiration of thirty days (3O) after the assessment for the cost of such improvements shall have been made final, the mayor and aldernen may then issue and sell bonds for such an amount as may be necessary, after deducting the amount paid by property owners, to pay the cost Vf said i'm movements, including such amounts as
 [ FR A