The city may issue assignable certificates, payable to the city, or to the purchaser thereof, declaring the liability of owners and their property for the payment of assessments, and may fix the terms, time of payment and conditions of default and maturity thereof. If such certificate shall recite that the proceedings with reference to the improvements therein referred to have been regularly had in compliance with law, and that all prerequisites to fixing the assessment lien against the property therein referred to, and the personal liability of its owner, have been performed, such recitals shall be prima facie evidence of the facts so recited.
The allegations of such recitals of such certificates in any suit brought for the enforcement thereof shall be a sufficient allegation of all proceedings had by the city council with reference to the making of such improvements and the assessment of the cost thereof, and of all prerequisites to such assessment, and shall be deemed sufficient to permit proof of such proceedings and prerequisites without the necessity of alleging and setting forth the same in the pleadings, by caption, substantially or in full. Such certificates may cover a period of 15 years and bear interest not to exceed eight percent per annum.
Such certificates shall represent the respective amounts due against the respective owners of property whose property is specially benefited, as provided in this article, and in case the work is let by contract, the contractor shall look to the certificates for his compensation; provided, that the portion of the cost of the improvement that is assessed against the city may be paid in cash by the city, or according to such arrangement as may be had between the city and the contractor. The certificates may be impounded, and if the finances are available, the city any purchase the same as provided by the charter. (Code 1941, Art. 128-8, 128-15)