The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1916-02-12

the improvement assessed against
them, may within Thirty Days after
the adoption OF the apportlonment pay
the amount assessed against them TO
the City Treasurer, who shall place
the money In the Street improvement
Fund, and credit such payment TO the
appOrtionment as adopted on said
street upon which said property is To-
Gated. At the expiration Of Thirty
Days after the adoption of the appor-
tionment the Treasurer shall report TO
the City Council the amount Of cash
received from whom and upon what
lots II is paid, and upon what street
the lots are located, and the Council
shall order the Mayor, City Treasurer
and the Chairman OF the Ways and
Means Committee to advertise street
paving bonds for sale to cover the UNI
paid balance together with all the eX-
tpense attending the issue and sale OF
said bonds, including the advertising
cost OF printing said bonds, etc. Said
bonds to bear interest at the rate Of
per cent per annum and when the
bonds shall have been sold the money
realized therefrom shall be placed in
the Street Improvement Fund, and an
order drawn against said fund in favor
of the contractor for the entire amount
due him, including interest at the rate
of 6 per cent per annum from the
time the work was accepted by the
City Council TO the date of payment to
him
SECTION Z.
That within Thirty Days after the
advertisement for the sale of said
street paving bonds it shall be the
duty of the Mayor to issue the bonds
Of the city, which shall be signed by
the Mayor and the City Clerk with the
Municipal Seal impressed thereon, and
interest coupons attached. payable
semi-annually at the rate of per cent
per annum, said bonds shall be issued
in denominations of Five Hundred
(S50000) Dollars each, payable ten
years after date. PROVIDED, how
ever. that said bonds may be redeem
able at the option Of the city at any
time before maturity by paying the
face of the bond with accrued interest
to the date of such redemption, and
said bonds shall be dated on the day
the work was completed and accepted
by the City Council, and shall be pay
able at the State National Bank, in
Maysville, Kentucky. But said bonds
shall not be sold for less than par and
accrued interest. The amount of said
bonds issued for any one Improvement
on any singular street shall be the
amount of the unpaid assessment as
shown by the Engineers apportion-
ment, together with the singular
street per cent of the cost of adver-
Using said bonds for sale, the making
of same and expenses attending the
issue thereof, and the total amount
thereof shall be assessed equally by
the feet front upon the property front
ing, abutting or bordering upon said
singular Improvement.
This Improvement is undertaken I'M
der the provisions of Sections 1867 and
1872, and the amendments thereto of
the Kentucky Statutes governing cities
of the Fourth Glass, and is to be paid
for by the property holders owning
property fronting. abutting or border
ing said improvement. The assess
ment shall be made as soon as the inn
provement is fully completed and the
sum shall be assessed together with
the cost attending the sale and issue OF
said bonds as aforesaid against each
piece OF property and the owners
thereof. Said assessment shall be
placed upon the tax list of the City
and shall be payable at the Office OF
the City Treasurer in ten equal In
stallments with interest at the rate
specified in said bonds upon the UNI
paid portion thereon; and the said as
sessment shall be lien upon the lots
parts of lots, and parcels of land front
ing, abutting, or bordering upon said
Improvement on said respective
streets. Said bonds shall be issued up
on the faith and credit of said assess
Ipent and liens on said streets, but in
nc event upon tue faith and credit OF
the City of Maysville.
The first installment together with
the interest as provided for upon the
whole amount at the rate specified,
shall be payable at the first payment
OF taxes next succeeding the time of
the assessment is placed upon the tax
list. The interest to be computed TO
the date that taxes are due and pay
able, and the other installments annu-
ally thereafter, and always at the time
OF payment of other city taxes. with
interest upon the installments not due
al that time until all installments are
paid. The assessment may be collect
ed like other city taxes, or tho city
may at any time after one installment
remains delinquent thirty days by suit
in equity enforce it's lien for all the
unpaid installments with interest
thereon until the date of satisfaction
of same. and it's costs expended.
The bonds shall contain on their
face the streets upon which liens are
retained for their payment, and shall
be numbered consecutively in series
numbered from No. l, to the number
required, and shall be in denomina-
tons of Five Hundred ($5O00O) Dol
lars each, except that one may be for
a smaller amount than that sum to
cover any remaining fractional part
OF Five Hundred Dollars said work
may cost upon any certain street with
appropriate interest coupons attached.
The bonds shall all bear date OF the
acceptance OF said work.
Said bonds shall not be issued upon
the faith and credit of the City OF
Maysville for the payment thereof, but
the faith and credit Of the City OF
Maysville shall be pledged for the sum
realized upon the appointments
against the property for the cost Of
paving and ourblng OF said streets as
L. a.