Interest on Assessment Bonds.

   Section 87.   When bonds or notes are issued in anticipation of the collection of assessments, the interest thereon shall be treated as part of the cost of the improvement for which the assessments may be made.

Limitation on Assessments.

   Section 88.   The council shall limit all assessments to the special benefits conferred upon the property assessed, and in no case shall there be levied on any lot or parcel of land any assessments for any or all purposes within a period of five years in excess of thirty-three and one-third per cent (33 1/3) of the actual value thereof after the improvement is made unless the owner or owners of such property shall, in writing waive the said limitation. Assessments levied for the construction of main sewers shall not exceed the sum that, in the opinion of council, would be required to construct an ordinary street sewer or drain of sufficient capacity to drain or sewer the lots or lands to be assessed for such improvement, nor shall any lots or lands be assessed that do not need local drainage, or which are provided therewith.

City's Portion of Cost.

   Section 89.   The city shall pay such part of the cost and expense of improvements for which special assessments are levied as the council deems just, which part shall not be less than one fiftieth (1/50) of all such cost and expense; and in addition thereto the city shall pay the cost of intersections; and the council may provide for the payment of the city’s portion of all such improvements by the issuance of bonds or notes therefor, and may levy taxes, in addition to all other taxes authorized by law, to pay such bonds or notes and the interest thereon. The council may provide for the transferring to the general fund of such portion of the proceeds of special assessments or of the proceeds of bonds issued in anticipation of the collection of special assessments, and of the proceeds of bonds or notes issued or taxes levied to provide funds for the payment of the city’s share of the cost of improvements, as is equal to the estimated cost of the engineering and inspection done or to be done directly by the city in connection with said improvement.

   The council may join the city’s portion of the bonds issued to pay the city’s cost of any such improvements, such as paving sidewalks or sewer improvements, with the bonds necessary to be sold to pay the special assessments made for said improvement, and so joined may be sold as one series in the same issue, and under the same advertisement.