No lands in a special assessment district which are benefited by the improvement therein shall be exempt from assessment, but if the same are owned by a public or other corporation exempt by law from the payment of special assessments, then the special assessments against such lands, or the installments thereof, shall be paid by the Village as the same become due or may be paid in advance of their due dates.
(Char. eff. June 7, 1954; amend. eff. Aug. 14, 1956)