The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-04-17

I'd in this ordinance shall be made
and the cost and expenses Of max
ing said improvement including the
cost and the expense of assessing
and collecting said assessment to
be levied and assessed therefor and
other lawful costs and expenses
shall be paid by special assessment
to be levied upon the lots, blocks.
tracts, pieces and parcels OF real
estate to be benefited thereby in
proportion to the benefits to the
property to be benefited and all
shall be done in accordance with
the provisions of an act Of the gen.
eral assembly Of the state Of Illi-
nois, entitled, "An Act Concerning
Local Improvements" approved
June Il, A. D. 1897, and all the
amendments thereto and such other
statutes of the state Of Illinois, as
may be applicable thereto.
Section XIV. That the aggregate
amount to be raised and paid by
special assessment, to be levied
and assessed as Aforesaid, and
also all such assessments against
said city of East Moline on account
of property owned by said munic-
ipality andalso for and on account
Of public benefits, shall be divided
into ten instaIlments, in the man
Der following to-wit: All frac-
tional amounts shall be added to
the first of said inst2llments so as
to make the remaining installments
of the aggregate costs and ex-
penses Of said improvement equal
in amount and so that each Of said
remaining installments shall be a
multiple Of one hundred ($180.00)
dollars. The first of said INSTALL
ments, including all fractional
amounts as aforesaid, shall be due
and payable on the second day of
January, next after date of the first
voucher issued on account of work
done on said improvement, and the
second of said installments shall
be due and payable in one year aft
er the said first installment shall
become due as aforesaid, and SO on
annually until all of said install
ments shall be paid. All INSTALL
ments shall bear interest at the
rate of five (5Po) per cent per an
mum. interest on all special assess
ments to be levied and assessed as
aforesaid, and on all amounts for
and on account of public benefits
shall begin to run from the date OF
the first voucher issued on account
of work done as aforesaid as certi-
fed by the board of local improve.
ments to the clerk of the court in
which said assessment is confirm.
ed. The interest on each install
ment shall be payable as follows
On the second day of January mex
| succeeding the date of the frs
voucher aforesaid, so certified d:
aforesaid the interest accrued up Il
that time on all unpaid install
ments shall be due and payable
and shall be collected with the in
stallment, and thereafter the in
terets on all unpaid installment'
stall be payable annually and shal
be due and payable at the Same
time as the installments maturing
in each year and shall be collectef
herewith: and in all cases it shall
be the duty of the city collector o
said city. whenever payment i
made of any installment. to co,lec
interest thereon up to the date o
each payment whether such pay
men: be made at Or after maturity
Any person may. at any time. pa.
the whole special assessment levie'
and assessed against any lot, block
tract, piece or parcel of land, .
any installment thereof. with in
terets theron as provided there's
tip to the date of payment.
Section XIV.
For the purpose of ANTICIPATING
the collection of the second an
. succeeding installments provide
for in this ordinance, it shall b
lawful for the city of East Molin
!. TO issue bonds payable out Of sal
installments, bearing interest at til
rate of five (51e) per cent per an
. mum, payable annually. and signe
by the mayor and city clerk Of sal
city OF East Moline, under the cor
porate seal of said city; and sal
bonds shall be issued in the sum
|. Of One Hundred lS100.00) Dollar
CT some multiple thereof and sha
be dated and draw interest fror
the date of the issuance thereo
Each Of said bonds shall state o
its face out of which installment
is payable, and shall state by nun
Der or other designation. the sps
cial assessment levy to which sue
installment belongs. TIL princips
of such bonds shall not exceed j
the aggregate the amount of sue
deferred installments and shall b
divided into as many series a
there are deferred installments
providing nothing herein containe
shall be construed to prevent tn
payment of any voucher or bon
out of an installment having SUI.
plus to its credit, other than til
; enc against which the same is i:
! sued; the intent and meaning theri
Of being that in case from an
! cause, the installment agains
which such bond or voucher
drawn has not sufficient money I
! the credit Thereof to pay the sam
the entire amount of the speci;
assessment levy, or any installmer
i thereof, may be applied toward til
payment of any such voucher {
7 bonds issued against the special a.
sessment levy. Each series shall b,
come due within the year in whic
the corresponding installment wi