Upon the petition in writing of the persons owning the greater amount of frontage of the lots or land abutting on both sides of any street or alley, between any two cross-streets or between a cross-street and an alley, whether such two cross-streets or cross-street and alley be adjacent or not, the Common Council of said Town may order any part of any street or alley to be graded, paved, repaved, re-surfaced and curbed, or either thereof, between the side walks in such manner and with such material as may be determined by the Common Council, from one of such cross-streets or alley to the other, under such regulations fixed by ordinance passed by the Connom Council, and the cost of such grading, paving, re-paving, or re-surfacing or curbing shall be levied against and paid as follows: One-third thereof shall be paid by the City, out of any funds at disposal of the Common Council, and the other two-thirds shall be assessed against the abutting property owners in proportion to the frontage of the lots or land abutting on both sides of the street or alley.
In making such assessments the basis shall be the cost of grading, paving, re-paving, or re-surfacing or curbing that part of the street or alley on which the property lies included between the designated cross-streets or alleys, and the amounts assessed against the owners of each lot or part of a lot of land shall be in the proportion which the frontage of such lot or part of lot or land bears to the whole cost of grading, paving, re-paving, re-surfacing or curbing said street or alley between said cross-streets or alleys as aforesaid; provided, however, that in case such street or alley so graded, paved, re-paved or re-surfaced is occupied by street car tracks or other railway, the cost of grading, paving , re-paving, or re-surfacing between the rails, and for two feet outside each rail shall be assessed to and paid by the street car or other railway company unless otherwise provided by the franchise of such street car or other railway company granted previous to the time this act goes into effect, and the abutting land owners shall be assessed only with the proportionate balance of the cost of such paving after deducting the amount assessed against said street car or other railway company; and, also, provided, that in case the cost of paving or otherwise improving said street or alley shall exceed the true and actual value of the abutting property, the excess cost shall be paid by the Town out of the general funds.
The Town Council may issue certificates for the amount of said assessments against abutting property owners which may be sold to the contractor doing the work, or other person, in full of the total cost of said work; provided, the City in negotiating and selling such certificates shall not be held a guarantor or in any manner liable for payment thereof, except upon the direct action of the Common Council as expressed by resolution of record before such sale. Said certificates shall be payable serially in ten years from date with interest not exceeding six percent (6%) annum. If the said certificates remain unpaid for more than sixty days after they become due and payable, is shall be the duty of the Recorder upon being requested so to do by the owner of said certificates to certify said assessments to the clerk of the county court of the county in which the property involved is located, who shall record and index the same as other liens of like kind are recorded and indexed, and the same shall be and remain a lien upon the real estate against which said assessments are made; and, said assessments shall in addition, be the personal obligation or debt of the owner or occupant of said property; and said lien and said debt or obligation may be enforced in the name of the owner of said certificates in like manner as other liens and debts are enforced.
The lien created by such assessments may be released upon presentation to the clerk of the county court of all the bonds or certificates issued thereunder, as to any specific real estate therein described or located, showing that the same have all been paid, and such clerk is hereby empowered to release the lien of such assessment as to any such real estate by noting a release thereof on the record of the lien as to such real estate on the margin of the deed of trust book where the same is recorded and such annotation by such clerk shall have the effect to release such real estate from such lien as effectively as a regularly executed and recorded release thereof. The proceeds from the sale of such bonds or certificates of indebtedness shall be applied to the payment of the indebtedness incurred in making the improvements on account of which such bonds or certificates of indebtedness were issued.