Should the assessments on any special assessment roll prove insufficient for any reason, including the noncollection thereof to pay for the improvement for which they were made or to pay the principal and interest on the bonds issued in anticipation of the collection of such assessments, then the Council shall make additional pro-rata assessments to supply the deficiency, but the total amount assessed against any lot of land shall not exceed the value of the benefits received from the improvement. Should the amount collected on assessments prove larger than necessary by five (5) percent or less the amount of the original roll, the Council may place the excess in any of the funds of the Village, but if such excess shall exceed such five (5) percent, then the same shall be credited pro-rata on the assessments against the several parcels of land according to the amounts thereof, such credit as to each parcel to be made upon the unpaid installments in inverse numerical order; provided, that if as to any parcel there shall be no unpaid installments, or, if the unpaid installments are less than the amount of credit shall be applied toward the payment of the next Village tax levied against such property. If the Village shall have been assessed for any portion of the cost of the improvements then it shall be considered in the same category as the owner of private lands and shall be entitled to its share of any such excess that any amount due the Village, which in case of private lands would be applied to the payment of Village taxes, shall be refunded to the Village in cash.
(Char. eff. June 7, 1954; amend. eff. Aug. 14, 1954)