(a) Powers. Where bonds are issued pursuant to this plan, the Improvement Bond Act of 1915 shall apply.
(b) Assessments under Fifty Dollars. Bonds may be issued in the total amount of all assessments in amounts of less than fifty dollars which are unpaid at such time, to mature at the same time as the maturity of the first series of such serial bonds, and which assessments shall become due and payable at the same time as that portion of the larger assessments which has been collected for the payment of the first series of the serial bonds and the interest thereon.
(c) Unpaid List. The list of unpaid assessments filed with the city treasurer by the street superintendent shall separately state in such list the total of the assessments which are of fifty dollars or over in amount, and the assessments which are under fifty dollars in amount.
(d) Denominations. Bonds for the amount of the assessments which are not an even multiple of not less than one hundred dollars or more than one thousand dollars may be made to mature at the same time as the first series of bonds.
(e) Payment of Assessments after Bonds Issued. After the bonds are issued, the assessment on any parcel may be paid in advance in the manner provided in the 1915 Act by paying to the treasurer the unpaid balance of principal, plus one year's interest, plus five percent of the unpaid principal amount of the assessment, plus ten dollars for the cost of publication of notice of call. The person paying shall not be entitled to any refund.
(f) Calling Bonds. When sufficient surplus moneys are in the redemption fund with which to call a bond, the treasurer shall call and retire a bond in the manner provided in the 1915 Act; provided, that the notice need only be given for a period of thirty days.
(Ord. 2277 (part), 1966: prior code § 40.503)