The Big Sandy news. [volume] (Louisa, Ky.) 1885-1929, 1912-03-22

ways shall be at the expense of the
city.
The ordering of such improve
ment shall be by ordinance of the
city council, and the contract there
for shall be awarded to the lowest
and best bidder after proper ad-
vertisement for bids. Tho city coun-
lcil shall require the accepted bid
der to execute a bond to the city
with good and sufficient security to
be approved by said council for the
faithful performance of his contract.
The original construction or re-
construction of any streets, avenues,
highways, alleys, sewers and public
places may be made at the exclusive
cost of the owners of the lots and
part of lots or lands fronting or
abutting or bordering upon the pro-
posed improvements to be equally
apportioned by the city council ac-
cording to the number of front feet
owned by them respectively or in
part at the cost of the owners and
in part at the cost of the city, upon
the petition OF d. majority of the
property owners of lo.;lo or parts Of
lots, or land abutting or bordering
upon the proposed improvement; or
the city council may cause same to
be done without such petition upon
the vote of four members elect Of
said council at regular meeting
thereof; or the council may, by a
majority vote Of any regular meet
ing thereof cause any such i'm
provement to be made upon the ten
year bond plan as hereinafter pro-
vided.
But any work undertaken under
the provision of the preceding sec
.tion to-wit: Upon the ten year
bond plan is completed in accordance
with the contract, the work shall be
received, by the city council and
the said council shall order the pay
ment for the same made to the con-
tractor by issuing an order to the
city treasurer to pay same in full
out of "The Street Improvement
Fund"
Whenever any work done here
under (upon the ten year bon
plan) has been completed and ac-
cepted, the city council shall issue
the bonds of the city. in sums not
exceed the cost of said Improvement,
and all expenses in connection there
with, including the expenses and
the usual and sale of said bonds,
and shall sell the same to the high
est bidder after due advertisement
at price not less than par and ac-
crued interest. Said bonds shall be
divided into ten series each series
to be as nearly equal as possible,
said series to be paid respectively
in one, two, three, four, five, six,
seven, eight, nine and ten years
after date, Said bonds shall be Of
the denomination of one hundred
dollars or multiple thereof not ex-
ceeding five hundred dollars, and
shall bear interest at a rate not to
exceed six percent per annum, and
shall be payable at Kentucky bank
to be designated by the city council.
All property fronting or abutting
or bordering upon said Improvement
belonging to the city shall be con-
sidered and assessed as property be-
longing to individuals, and thesp4s-
sessment thereon together witH the
cost of intersections and crossings
shall be paid by the city Iout of the
general fund, and charged to the
Street Improvement Fund" The
shall be made as soon
as the improvement fund is fully
completed, and the sum assessed
against each piece OF property, and
also the owners thereof, shall he
placed upon the tax list OF the city.
and shall be payable to the city.
in ten equal, annual in
stallments with interest at the rate
per annum which said bonds bear
upon the unpaid portion thereof.
The owner or owners of lots or
parts of lots of land, may at any
time after the assessment for a
street Improvement is made, pay
off in full the whole amount up to
and including the next ensuing date
provided for the payme1 OF said
city taSes