Public Acts Chapter 276 529 on improvement district funding
The text details how cities must set permanent profile grades before improvements, fund costs from general funds bonds or special taxes, and establish sinking funds from assessments. It outlines installment payments, delinquency, interest up to six percent, and foreclosure remedies for overdue levies. It also allows local purchase of abutting lands by the city if no bids cover principal and interest.
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Ifm
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Beit
Caid ‘Bonita
Wall City
Auange
Eich
Ivan
Eat
Fonds
Dieteich
Oopuch
Tern
Eaidefty
Ely
City Improvement Bonds and District Provisions In Act
The text details authority for legislative bodies to adopt ordinances issuing city improvement bonds for district costs. It covers bond terms, interest not exceeding six percent, twenty-year limits, sinking funds, and required payments from special taxes on abutting property. It specifies bond execution, redemption, and strict use for district improvements, plus surplus handling and bond sale procedures.
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