2-32-630 Special assessment bonds – Form and contents.

   Whenever the corporate authorities of the city shall provide by ordinance for the issuance of improvement bonds for the purpose of anticipating the collection of special assessments heretofore levied or hereafter to be levied, in pursuance of the provisions of the statutes of the state, such bonds shall be lithographed or steel- engraved on the best quality of heavy bond paper, of a design to be approved by the mayor, and shall be signed by the mayor, either personally or by a person designated by him according to law, and by the president of the board of local improvements, countersigned by the comptroller, and attested by the city clerk.

   Coupons shall be attached to such bonds which shall bear the facsimile signature of the comptroller, and shall be in substantially the following form:

   Coupon No.________   $________

The City of Chicago, Illinois, promises to pay to bearer at the office of the city treasurer, in said city, on the ________ day of ________ 19________, the sum of ________ dollars, being the annual interest on improvement bond No. ________, series No. ________, dated ________, issued in anticipation of the collection of the ________ deferred installment of special assessment No. ________, named in said bond, said sum to be paid solely out of the said installment when collected.

                  City Comptroller.

   Each bond shall have its amount printed or lithographed across the face thereof in large figures.

(Prior code § 7-53)

2-32-640 Special assessment bonds – Sale procedures.

   The comptroller may, in his discretion, invite competitive bids for the purchase of local improvement bonds issued in anticipation of the collection of special assessments. Such bids shall be solicited by advertisement in a daily newspaper of the city inserted at least one week prior to the time fixed for opening the same. The bonds shall be sold to the bidder making the highest and best bid for the same, provided, that they shall not be sold below the par value thereof and accrued interest. The comptroller shall report to the city council the particulars regarding each sale of special assessment bonds so sold.

(Prior code § 7-54)

2-32-650 Certificate of payment of special assessment.

   The comptroller is hereby authorized to issue certificates of payment of special assessments, certifying to the payment to the comptroller of any special assessment of which he has a record in his office, upon payment by the applicant therefor of a fee of $10.00 for each such certificate. The certificate shall state the number of the warrant, the number of the installment, the name of the payer, the date of payment, the description of the property, and the amount paid, and shall otherwise be in such form as may be approved by the comptroller.

(Prior code § 7-55; Amend Coun. J. 12-12-01, p. 75777, § 1.1; Amend Coun. J. 11-16-11, p. 13798, Art. I, § 2)