Chapter 7
CONTRIBUTIONS AND ADVANCES
Sections:
12-7.02 Purchases of assessments, warrants, and bonds.
12-7.03 Payment of assessments, warrants, and bonds.
12-7.07 Purchases and sales of delinquent property.
12-7.01 Contributions.
Contributions or partial payments from the United States or the State, or any agency of either, or from the County may be accepted and the same or any available City moneys applied to any part of the costs of a project at any time during or after the proceedings may be applied in reduction of the amount assessed or to be assessed therefor.
(§ 1, Ord. 339 C-M, eff. November 7, 1974)
12-7.02 Purchases of assessments, warrants, and bonds.
In any proceeding held pursuant to the provisions of this Code, the City may declare in the resolution of intention that it intends to purchase the assessment, warrant, or bonds to be issued therein.
(§ 1, Ord. 339 C-M, eff. November 7, 1974)
12-7.03 Payment of assessments, warrants, and bonds.
The City shall, upon the issuance of the assessment, warrant, or bonds, as the case may be, pay to the contractor who shall have been awarded the contract to do the work in such proceeding in the case of public improvements, or into court in the case of acquisition proceedings, the principal amount thereof.
(§ 1, Ord. 339 C-M. eff. November 7, 1974)
12-7.04 Payment: Bonds.
Such bonds, when issued as set forth in Section 12-7.03 of this chapter, shall be made payable to the bearer.
(§ 1, Ord. 339 C-M, eff. November 7, 1974)
12-7.05 Payment: City.
In such case as set forth in Section 12-7.03 of this chapter, the City shall succeed to all rights under such assessment, warrant, and bonds.
(§ 1, Ord. 339 C-M, eff. November 7, 1974)
12-7.06 Payment: Purchases.
The City shall have like power at any time to acquire and own any bonds, assessments, or contracts issued, levied, or made pursuant to the provisions of this Code, or now issued and outstanding, for any improvement and/or acquisition of the City.
(§ 1, Ord. 339 C-M, eff. November 7, 1974)
12-7.07 Purchases and sales of delinquent property.
The City may bid for and purchase any real or personal property offered for sale for the nonpayment of any improvement assessment levied and assessed under any of the provisions of this Code, or any installment thereof, or penalties, costs, or interest thereon, or any suit brought to foreclose such assessment.
(§ 1, Ord. 339 C-M, eff. November 7, 1974)
12-7.08 Resales.
Whenever any property shall have been acquired by the City at any such sale, then such property, or any lien thereon or interest therein created by such assessment, may be released, assigned, sold, or otherwise disposed of by the City as it shall determine; provided, however, no such release, assignment, sale, or other disposition of any such lien or interest, or of any such property, shall be made unless there shall be first paid to the City a sum of money equal to, and not less than, the amount paid therefor by the City, together with all accrued penalties, costs, interest, and necessary expenses incurred; and provided, further, if any lien or interest or property cannot, as determined by the Council, be sold for the amounts or charges computed as provided in this section, then the Council may, by four-fifths ( 4/5) vote of all its members, sell any such lien or interest or property for the best price obtainable according to its judgment.
(§ 1, Ord. 339 C-M, eff. November 7, 1974)