The Clerk shall, within 60 days after the completion of each local or special public improvement, compile the actual cost thereof and certify the same to the Assessor who shall adjust the special assessment roll to correspond therewith. Should the assessment prove larger than necessary by 5% or less, the same shall be reported to the Council which may place the excess in the Village Treasury or make a refund thereof pro rata according the assessment. If the assessment exceeds the amount necessary by more than 5%, the entire excess shall be credited to owners of the property as shown by the village assessment roll upon which the assessment has been levied, pro rata according to the assessment; provided, however, that no refunds of special assessments may be made which impair or contravene the provision of any outstanding obligation or bond secured in whole or part by the special assessments. When any special assessment roll shall prove insufficient to meet the cost of the improvement for which it was made, the Council may make any additional pro rata assessment, but the total amount assessed against any one parcel of land shall not exceed the benefits received by the lot or parcel of land.
(Ord. 32, passed 4-14-1986)